Words that will haunt him forever
Mr Stevens – yes the Australian Reserve Bank Governor.
A novice in a world of greed and mountains of debt.
Mr Stevens said recent share market turmoil has not fed through significantly into debt markets for sovereigns, banks and most other companies, implying that the global economy is far from a crisis.
“Things could change but, at present, we do not see anything approaching the dislocation of funding channels that you see in serious crises,” he added.
Mr Stevens also played down weak Australian economic growth figures for the June quarter released earlier this month, which showed that GDP grew just 0.2 per cent over that three-month period.
“The March quarter exaggerates strength and the June quarter exaggerates weakness in the GDP as measured,” he noted, although the annual growth rate was also quite weak at only 2 per cent.
His bi-annual speech to Parliament- comments extracted from the ABC.
Did Stevens even foresee problems in the Asian Financial crisis?
The impact of the financial crisis of 2008 and current groundswell for 2015?
No – he did not – he is blind.
Did he ever once apologize for his arrogance?
Pity he could not see the world as it is – enslaved to debt at zero interest rates – bloated government and bureaucracy.
A bond bubble – generated through a debt bubble – fueled by bloated governments – inept politicians and greedy banks and big business.
But – all is well – he keeps the political parties happy – he maintains his lucrative position and doesn’t upset the status quo.