July 20, 2009


Sir in “An exit will have to come, but not yet” July 20, by reducing us to some “sick” jokers worrying about inflation when there is so much “excess capacity and high and rising unemployment” you show utter disrespect to those of us who do worry about inflation resulting from hitting serious energy, public debt and climate change bottlenecks. I would say who ever wrote this editorial must be a baby-boomer living up to the motto “Après moi, le déluge”.

That said on the theme of quantitative easing let me remind you that just as a company repurchasing its own shares his main problem is that while doing so he really does not know how much the market values his shares.