Kudos to Dr. G. Gono, Chairman of the Zimbabwe Res. Bank
Dr G. Gono, Chairman of the Zimbabwe Reserve Bank, adds a touch of
humor to Marc Faber’s report: “As Monetary Authorities, we have been humbled and have taken heart in the realization that some leading Central Banks, including those in the USA and the UK, are now notjust talking of, but also actually implementing flexible and pragmatic central bank support programs where these are deemed necessary in their National interests…That is precisely the path that we began over 4 years ago in pursuit of our national interest . …Here in Zimbabwe we had our near-bank failuresa few years ago and we responded by providing the affected Banks with the Troubled Bank Fund (TBF)
for which we were heavily criticized even by some multilateral institutions who today are silent when the Central Banks of UK and USA are going the same way and doing the same thing under verysimilar circumstances thereby continuing the unfortunate hypocrisy that what’s good for goose is not good for the gander. …As Monetary Authorities, we commend those of our peers, the world over, who have now seen the light on the need for the adoption of flexible and practical interventions and support to key sectors of the economy when faced with unusual circumstances.” http://www.thegoldwatcher.com/?p=245
US Arbeitlosenzahlen …
Household Survey and the U6
(Table A-12, Alternative measures of labor underutilization) ‘comprehensive unemployment rate’, which hit 11.8% in October.
U6, per the BLS:
Total unemployed, plus all marginally attached workers, plus total employed part time
for economic reasons, as a percent of the civilian labor forces plus all marginally attached workers.
NOTE: Marginally attached workers are persons who currently are neither working nor looking
for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those
who want and are available for full-time work but have had to settle for a part-time schedule.
http://www.bls.gov/news.release/empsit.t12.htm
Bill Clinton ‘defined away’ people that are considered ‘long-time unemployed’. If these jobless people are added to the U6 it would be an estimated 13% to 13.5%.
Wer bietet mehr?
„Im nächsten Jahr könnte das deutsche Bruttoinlandsprodukt um bis zu vier Prozent schrumpfen“, so Norbert Walter, der Gralshüter volkswirtschaftlicher Erkenntnisse bei der Deutschen Bank, in Bild.de. Zwar qualifiziert Walter im nächsten Satz mit: „Die Wahrscheinlichkeit dafür beträgt rund ein Drittel.“, aber hängen bleiben wird die Überschrift: „Deutsche Wirtschaft schrumpft 2009 um 4 %!“
Nun wissen wir alle nicht genau was kommt, aber auf dem heutigen Wissenstand fragt man sich – cui bono? Hat die DB massive Short Positionen, die noch ein wenig Hilfe benötigen?
Ich denke, dieses Interview wird in Berlin nicht viel politischen Beifall provozieren. Vielleicht überlegt man dann dort auch, den Weg von Lettland zu gehen?




