Gobbledygook

"Monetary policy got itself into a cul-de-sac where it didn't take financial markets seriously.....we need to take other steps in order to reduce those risks because if we don't, we're going to create bigger problems and we'll have to pull back too soon on monetary policy......We need financial markets that are more resilient, more like the equity market....but we could get a price, could transact.  You couldn't transact if you were trying to borrow short-term.....We realized the scale of leverage in the system in the fall of 2007.....we had some very simple regulations, a leverage ratio that was a simple test.  That helped save the core of our system."

Whaaaat??!!

Who spake these words?  Mark Carney in an interview with Charlie Rose in 'Bloomberg Business Week'.  Hey Mark, I think you're having all of us on.  If anyone knows what the hell Carney is rambling on about award yourself a PhD in Economics!  It is complete BS and poppycock.  Let's face it, all the governor of any national bank does is frig around with interest rates.  Do they go up or down?  Nothing else -- except print more or less money.  The hooey Carney spouts is ludicrous. 

Guess he has to froth on to justify his HUGE salary as Governor of the Bank of England.  He is so full of it, people actually take him seriously because they have no idea what he is talking about, hence they think him brilliant.  Got news for you, I'd rather have Art Carney discussing economic policy.  This Emperor has no clothes.