Trichet says turning point coming

rte.ie/business/2009/0309/ecb.html

that would be him calling the bottom without actually saying it… right? :open_mouth:

Taking a leave from Gerard Houillier’s book so… :smiling_imp:

‘Approaching’
:angry:

Sure this is the world. It’s different!

We’ll see a very powerful stock market rally first.

“We are approaching a turning-on point [and will begin printing money].”

Well I hope he’s right. It’s true that cheaper oil and commodities should help, but our banking system is totally banjaxed. I guess JCTs comments are a little contrary to his actions last week lowering rates by 50bps.

(At the risk of having the whole thread moved to The Piston)

There’s something about that article that reminded me of this

Or perhaps, those hoping for an early upturn will be more akin to those “Waiting for Godot”

Blue Horseshoe

He didn’t say which direction the world economy was going to turn…

doesn’t growth mean upward?

Jurgen Stark’s presentation:
ecb.int/press/key/date/2009/ … 09.en.html
I’m only on the first paragraph and already I am in a cold sweat…

He sure knows a lot of ways to “NOT” say deflation:

would I be right in saying that he thinks:
-lowering interest rates further is a bad idea
-printing money is a bad idea
-buying bad assets is the way to go

Long speech Jurgen :frowning: Very long speech :frowning:

From Mr. Starck:

provost:
yes, yes, and no.

He says it all, doesn’t he? We are the Bundesbank, you will be assimilated, attempts to escape your obligations are futile…

While we’re on the subject, I noticed this on the ECB site:
ecb.int/press/pr/date/2009/h … _2.en.html

Normally, IIRC, the Central Bank transfers some profit to the exchequer each year… look like that is going to be less this year…

And some hints about interest rates from Lorenzo bin Smaghi:
ecb.int/press/key/date/2009/ … 06.en.html