QE Is Dead… Long Live QE! « The Burning Platform.
[N]othing is more essential than that permanent, inveterate antipathies against particular nations and passionate attachments for others should be excluded, and that in place of them just and amicable feelings toward all should be cultivated. The nation which indulges toward another an habitual hatred or an habitual fondness is in some degree a slave.
Dear Diary,
QE is dead. Long live QE!
This time it was the European Central Bank that bought the drinks. US investors bellied up to the bar and helped themselves; the Dow rose 69 points. Gold kept slipping.
Since the Fed ended its QE program, the Bank of Japan and the ECB have come forward promising more money for stock markets.
Draghi has faced increased pressure to do more to support a slowing euro-zone economy after the Bankof Japan last week unexpectedly announced it would add the equivalent of another $730 billion to itsbalance sheet.
And at the end of its two-day policy meeting yesterday, the ECB announced a plan to buy another €1 trillion in asset-backed securities. This will bring the ECB’s balance sheet back to 2012 levels.
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