To support its arguments, the bank tried to dispel what it calls myths about spending, including that bond markets are worried about high borrowing by governments.The fools, making logical arguments with facts and statistics. Don't they realize that facts and statistics are meaningless when weighed against the gut feelings and divinations of Stephen Harper? Recommend this Post
That would usually be indicated by high interest rates as lenders priced in the higher risk of default.
But BMO said most government bond markets are showing no such concern this year.
"Quite the contrary," said the report's author, and the Bank's deputy chief economist, Douglas Porter.
"Ten-year U.S. treasury yields have recently dropped to their lowest level since April 2009, when the economy was still mired in recession and losing more than 600,000 private sector jobs per month," he said.
Friday, August 13, 2010
Pogge points to a CBC report indicating that BMO is urging caution when it comes to ending stimulus spending. The story includes this: