Today in various newspapers:
The value of the Swiss frank has increased even more while the Euro keeps on dropping. The Bank of England says UK growth will be less than expected and the Bank of Ireland is seeking help (again). In the mean time the German Commerzbank saw its profit plummet with 93% because of the Greeks and China is expected not to be able to rescue us all. On top of that it was reported that they have launched a new Aircraft Carrier of which they will build another 7 before 2030.
Moreover: the European Central Bank is about to loose its independence and the coverage of Dutch Pensions is in a free fall. Our ignorant Prof Eijffinger (Dutch Economist) said that these are all "ripples we should not be worried about".
Also Ben Bernanke promised not to increase the interest rate until at least 2013......
Brilliant!
On top of that Economy is considered a science!!?? Everybody knows that economy can not be calculated and is a philosophy at best that can not be controlled by politicians or number crunchers. Economy is mass behavior based on emotion!!!
