"The problem the
world faces as we emerge from recession is that banks are reluctant to lend.
Monetary policymakers are confronted with “You can lead a horse to water, but
you can’t make it drink”. The response around the world has been instructive:
Ben Bernanke has rolled up his sleeves, gone Zero Dark Thirty on the poor nag
and started pouring water down its throat; Mervyn King has shrugged and put on
his best “What Can You Do?” face; while the ECB has decided that the horse was
actually looking a little overhydrated anyway. And what have the results been?
The strategy has been
quite ruthless. Interest rates and government bond yields have been forced down
to historically unprecedented levels."
http://pawelmorski.com/2013/05/09/loose-money-stop-us-before-we-kill-again/
http://pawelmorski.com/2013/
