One For The Horror File
From The Australian
See: http://www.theaustralian.news.com.au/story…5006784,00.html
“Church Leader Rues the Price of Libertarian Philosophies”
by Jill Rowbotham
REBUKING “a nation whose love affair with personal freedom has borne unpleasant fruit”, the Anglican archbishop of Sydney yesterday condemned its culture as “resource-rich and relationship-poor”.
Addressing the annual diocesan synod, or parliament, the Most Reverend Peter Jensen also targeted the leading political parties, which had “embraced the economic freedom which they see as essential to our prosperity”.
“They do not see that economic freedom trumps the social conservatism – or better, the Biblical principles – which sustains our values,” he said.
Age Of Turbulence
“If i seem unduly clear to you, it’s because you have misunderstood what I have said…..unless i’m trying to flog my latest book, in which case I will be crystal clear.”
Alan Greenspan
OK. I made the second part up. Alan Greenspan has been uncharacteristically lucid of late, spilling the beans on the inner workings of the Fed, declaring the Iraq conflict to be ‘all about oil’, and warning new Fed Chairman, Ben Bernanke, that he should be rather worried about inflation. His old European counterpart, European Central Bank chief, Jean-Claude Trichet, has been saying much the same thing.
Greenie’s timing couldn’t be worse for Bernanke. Tonight he has to make the toughest call facing a Fed Chairman since the Dotcom bust in 2001. The market, for the first time in a long while, is unsure what he will do – will he cut rates by 25bp or by 50bp? My money (you can get about evens on this at IG Index) is on a 25bp cut as the initial euphoria that would greet a 50bp rate cut would be followed by a growing sense of ‘what the hell does he know that we don’t'?
Anyway, Greenspan is right to remind the new Chairman to worry about inflation because having gone walkabout for the best part of 20 years, it’s back. And it’s now hanging out in a most unusual place.
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