In response to an FT article by Claire Jones on 14th May 2015, entitled 'Draghi warns central banks against 'blind' risk taking
"Mario Draghi has warned central banks to beware of the risk that aggressive monetary easing, including mass bond buying, could lead to financial instability and worsen income inequality"
Translation: Ten-year-old pyromaniac advises classmates not to play with matches. “My suspicions have been confirmed”, said the boy, adding “fire is hot”
“After almost seven years of a debilitating sequence of crises, firms and households are very hesitant to take on economic risk,” said Mr Draghi. “For this reason quite some time is needed before we can declare success”
Translation: Following 7 years in a coma after taking prescribed sleeping tablets, man admits it may take quite some time before he is ready to trust his doctor. ‘Modern drugs are totally safe’, says doctor, “Provided we monitor his dosage this man has nothing to worry about’
“For pensioners, and for those saving ahead of retirement, low interest rates may not be an inducement to bring consumption forward,” the ECB president said. “They may on the contrary become an inducement to save more, to compensate for a slower rate of accumulation of pension assets.”
Translation: Central Banker reveals economy includes people with a brain. Nobel prize beckons.