Wednesday, January 16, 2008

ECB's Mersch gets religion

More yakking from another Central Bank. He said he was not "unaware of the mitigation to price developments." In other words, the economies are weakening so fast, that we won't have to worry about inflation.

Then shut up and cut. The market selloff in the US is a recognition of the recession risk, and the utter contempt that the markets have for Bernanke.

And that was displayed in the stock prices in the after hour trading yesterday.

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