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What is the ECB thinking?

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  • #91
    Originally posted by Kidicious
    Right now a surplus accumulates there. In 10 years or so there will be a deficit. So that will increase the money supply like a budget deficit, right? Will they sell off the govt debt in there?
    It will drive the unified budget balance further into the negative, yes. The effect is that of an increased deficit anyway. How it is technically done (have bonds reimbursed by federal government or sell them at market) is a secondary issue.
    “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

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    • #92
      Originally posted by Kidicious
      The weak Dollar doesn't seem to be affecting US trade much.
      The growth in international trade of the first five quarters was offset during the five or six following quarters, then, when the decrease of the dollar value became significant, import and export started growing again, export at about 6% and import at about 15%. Nothing able to reduce the trade deficit, but the full effect of the weak dollar on export is possibly not yet produced.
      Statistical anomaly.
      The only thing necessary for the triumph of evil is for good men to do nothing.

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