True to his MIT-educated, New Keynesian roots, the head of the ECB is now engaged in a tightrope walk over an abyss, somewhat reminiscent of Petit's awesome and illegal traipse between the WTC towers in 1974. Another rate cut, more liquidity to banks, but, uhhh, no, you were mistaken if you thought (are you listening Bundesbankers?) I would be doing a lot more Trichet-esque bond buying. Though of course in the end I will....
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