Not bloody likely…. so says my British Harry Potter pen pal on myspace. I asked him if the ECB would cave to the U.S. Fed and lower their rates. He sarcastically retorted that unlike the U.S., Europeans and Asians don’t watch their home equities, they watch their savings accounts. They’re having real estate issues too, but they’re just not that concerned as most have savings.

He said he’s waiting until June, when he usually buys new jeans (because he only buys new clothes once a year), to buy some advantageously priced Levi’s.