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Axel Merk: Why Asset Prices Must Return To Lower Levels
Axel Merk: Why Asset Prices Must Return To Lower Levels It’s the price you pay for forcing capital to speculate Saying it’s been a busy week and half on the central bank front is perhaps a sizeable understatement. First, the Swiss National Bank stunned the world (and its brethren central banks) by removing its peg […]
Mario Draghi: Charlatan Of The Apparatchiks
Mario Draghi: Charlatan Of The Apparatchiks Well, he finally launched “whatever it takes” and that marks an inflection point. Mario Draghi has just proved that the servile apparatchiks who run the world’s major central banks will stop at nothing to appease the truculent gamblers they have unleashed in the casino. And that means there will eventually be […]
China shares plunge, Europe eyes crunch ECB meeting
China shares plunge, Europe eyes crunch ECB meeting (Reuters) – Chinese shares chalked up their biggest one-day slide in nearly seven years on Monday after regulators there took steps to rein in speculative lending, while investors everywhere braced for what is shaping up to be a critical week in the euro zone. Expectations are high that the […]
The ECB Will Fail Given The “History Lessons Of US And Japan”, Warns Deutsche Bank
The ECB Will Fail Given The “History Lessons Of US And Japan”, Warns Deutsche Bank Recall that the stated purpose behind the reason why Mario Draghi’s ECB is about to launch a European government debt monetization program ranging between EUR500 and 1000 billion is to halt deflation, spark credit creation and rekindle inflation. Alas, if […]
The Stimulus Monkeys Are Screeching And The Central Banks Are Pushing On A String
The Stimulus Monkeys Are Screeching And The Central Banks Are Pushing On A String Have you been at the zoo when the monkeys start rattling their cages and screeching in unison? That about sums up the last 24 hours since the euro zone’s December CPI printed at negative 0.2% versus prior year. Within minutes of the release, brokerage […]
EU Showdown: Greece Takes on the Vampire Squid
EU Showdown: Greece Takes on the Vampire Squid Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.” […]
Eurozone economy enters deflation
Eurozone economy enters deflation In spite of all the warnings and the predictions to the contrary, the eurozone economy slipped into deflation in December, according to estimates published by Eurostat today (7 January). It estimated that inflation in the eurozone in December was -0.2%, dragged down in particular by falling oil prices. Energy costs fell by […]
The ECB’s risky crossing of the Rubicon | European Voice
The ECB’s risky crossing of the Rubicon | European Voice. Eurozone monetary officials are expected to make history when they gather for the European Central Bank’s next policy-setting meeting on 22 January. Observers expect that Mario Draghi, the president of the European Central Bank (ECB), and his colleagues will finally cross the Rubicon and announce the […]
Stability and Prosperity in Monetary Union by Mario Draghi – Project Syndicate
Stability and Prosperity in Monetary Union by Mario Draghi – Project Syndicate. FRANKFURT – There is a common misconception that the euro area is a monetary union without a political union. But this reflects a deep misunderstanding of what monetary union means. Monetary union is possible only because of the substantial integration already achieved among […]
Another Keynesian Debt Boondoggle: How Brussels Plans To Turn Zero New Cash Into A $400B Stimulus | David Stockman’s Contra Corner
Another Keynesian Debt Boondoggle: How Brussels Plans To Turn Zero New Cash Into A $400B Stimulus | David Stockman’s Contra Corner. The desperation and fraud of the Keynesian policy apparatus gets more stunning by the day. Apparently, the pettifoggers in Brussels will soon be announcing a new $400 billion bazooka to blast the euro-economy out of its […]
Life Lessons To Derive From QE And Stress Tests – The Automatic Earth
Life Lessons To Derive From QE And Stress Tests – The Automatic Earth. I already proposed a few days ago that the recent ECB stress test exercise was such a shambles, it may well have been designed to fail on purpose. In order for Mario Draghi and his Goldman made men to be freed from […]
Errors Found In The ECB’s “Confidence-Boosting” Stress Test | Zero Hedge
Errors Found In The ECB’s “Confidence-Boosting” Stress Test | Zero Hedge. Just when you thought the humor out of the central bank that just released a stress testwhose adverse scenario did not even assume the most likely Eurozone outcome, i.e., deflation, couldn’t get any better, moments ago we learned that the test, which was supposed to […]
The Scariest Number Revealed Today: $1.114 Trillion In Eurozone Bad Debt | Zero Hedge
The Scariest Number Revealed Today: $1.114 Trillion In Eurozone Bad Debt | Zero Hedge. As we previously reported, the ECB’s latest stress test was once again patently flawed from the start. Why? Because as we noted earlier, in its most draconian, “adverse” scenario, the ECB simply refused to contemplate the possibility of deflation. And here’s why. Buried deep […]
ECB Announces Stress Test Results: Here Are The 25 Banks That Failed | Zero Hedge
ECB Announces Stress Test Results: Here Are The 25 Banks That Failed | Zero Hedge. As was leaked on Friday, when the market surged on news that some 25 banks would fail the ECB’s third stress test (because in the New Normal more bank failures means more bailouts, means the richer get richest, means more […]
The Death Rattle of Europe’s Statist Dream |
The Death Rattle of Europe’s Statist Dream |. Europe’s all-too-predictable relapse into recession is gathering force, threatening not only the pipe dream of economic and political unity, but eroding grandiose illusions that have helped prop up the world’s financial house of cards. The unwillingness of France in particular to play by the EU’s — i.e., […]
