While I am sure the news is apt to disappoint some, I haven’t fallen off the face of the earth quite yet. I have had one of those periods where I just don’t have much in the way of creativity churning away. Blog posts get started and they just don’t flow the way I’d like them to or the idea just doesn’t seem as good once it’s started on “paper.”
I haven’t seen anything written in the blogosphere about the monetary situation in Ukraine yet. It has been up there as a tantalizing tidbit on Bloomberg.com for a couple of days; and was one of those topics that I just couldn’t get started with, partly because it looks like more craziness from a central bank that cares more about exchange rates than the political-economic condition of the country it serves. Surely, it can be of no help given the rocky political situation surrounding the government’s decision to put the EU deal on ice. Political unrest + economy in already in recession + even tighter money = mega-disaster. The last thing politicians should want is a multitude more freshly laid off citizens collecting in the capitol, righteously indignant and screaming at them. But they just can’t seem to keep from haplessly meandering into deserving it.
Remember Forest Gump? “Stupid is as stupid does.” And this situation seems quite stupid without any stroke of luck anywhere in sight. It really is too bad that so many innocent people end up victimized by this kind of massive stupidity. Central banks are dangerous things that shouldn’t be entrusted to the hands of idiots. It’s kind of like letting little kids play with bazookas, only on a very large scale.
Which reminds me… I noticed some heat going around about a comment made about someone named Isabella. On a personal level, insulting someone is the risk taken when publicly posting information. But I don’t really understand the sensitivity to Ms. Isabella after stating full agreement with Charles Plosser, with only difference of opinion being the target. That was simply over the top, as in one should be applying for membership at BIS and hobnobbing with Jens Weidman. I mean really, these guys do not care about inflation, per se; but rather a state of being where all political roads lead to the central bank. Tight money is simply a means to the end of having the political system over a barrel and the people are nothing more than white lab rats. How that would be in any way tolerable, I do not know. Ms. Isabella is really no one special in comparison to the apparent constitutional crisis at hand; a point certainly worthy of deep consideration.