ECB prime rate increase counter productively

The inflation is caused nearly only by the high oil price. The escape from oil needs investitions in new technology, aggravated by the higher prime rate.

  This was not in the schoolbook

Helpless stand politicians and economic leaders in front of the rubble of their inappropriate politics. The oil rush, growth at all costs, the dogmatic belief on the eternal and alway cheap crude oil. The pursuit of the heretic with so called "economic calculations", which turned the oil price in the last month all to waste paperl

In the schoolbook of economic scicence, which brought us in this situation, is written increase the prime rate at inflation. The European central bank acts like in the schoolbook, because the understanding of the correlations is missing.

  The escape from oil has to be financed

New industries have to be built to make the escape from the oil possible. Exisiting industries have to be changed. All the consumers have to buy nearly oil free plug-in hybrid cars. Renovate buildings. This is the only way to fight inflation, by breaking the influence of the oil price on the inflation.

Only a fast escape from oil can reduce the demand pressure on the oil price and reduce in this way the inflation.

  EZB erschwert Flucht aus Öl

Instead of cheap credits for the escape from oil, credits become now more expensive. A further proof, that our leading elites are completely overstrained by the situation.

Context description:  ECB European central bank prime rate increase event events date time month 7 Jul July summer 2008-07-03
event 2008
politics political