6.7 C
New York
Friday, March 29, 2024

Key Words of the Day: “Nothing”, “Fiscal Cliff”, “Later”; Bernanke Speech Template; U.S. Fiscal Cliff and What to Do About It

Courtesy of Mish.

Everyone is pouring over the latest statements by Fed chairman Ben Bernanke and German chancellor Angela Merkel. But what did they really say?

The short answer is “nothing”.

For example, Bloomberg reports Merkel Says Germany Ready to Back Use of Current Euro Tools.  

“In view of the current difficulties, it’s important to emphasize that we have created the instruments of support in the euro zone, that Germany is ready to work with these instruments whenever that is necessary and that this is an expression of our firm desire to keep the euro area stable,” the chancellor said. Merkel didn’t outline to which tools she was referring. 

Four Questions, Four One-Word Answers

  1. Is Merkel backing any new procedures? No 
  2. Is there a change of any kind? No 
  3. Did she even say what tools she was talking about? No
  4. Was this even news? No

At first glance the Bloomberg headline looks significant. However, the words “current tools” say all you need to know.

I propose a more realistic headline: “Merkel Supports What Merkel Supports

Continue Here

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x