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Loan Modification

: Mortgage Lender Implode-o-Meter

Flat-Earth European Central Bank misreads oil spike again, and kicks Spain in the teeth

By Implode-Explode Heavy Industries

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``The ECB seems caught in a 1970s time-warp, wedded to the fallacy that the Yom Kippur oil shock caused the Great Inflation. The actual cause was rampant growth of the broad money supply, US spending on the Vietnam War and the Great Society, and a near ubiquitous picture of over-stimulus and over-heating across the West. It was a demand story, not a supply shock. Chalk and cheese. ''

Full post as published by Mortgage Lender Implode-o-Meter on March 08, 2011 (boomark / email).

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