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Miracles Aren’t Shovel-Ready
The monetary mouse. After years of Mario Draghi claiming everything under the sun available with the help of QE and the like, Christine Lagarde came in to the job talking a much different approach....
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Ring, Ring, Hündchen
They really do seem to love Jay Powell’s announcement effect, these Germans. Magic words, no relation to what’s actually done only what’s said. Confirming in every way what I wrote yesterday, the...
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When Sentiment Flies
According to Germany’s ZEW, economic prospects for the intermediate future in that country (and for Europe, separate survey) haven’t been this positive since 2006. Back then you might remember the...
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Would The Real Dollar Please Stand Up
On December 3, 2015, Europe’s central bank, the ECB, supposedly disappointed markets especially those trading European equities. Losses were large because Mario Draghi’s gang of policymakers merely...
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Why Aren’t Bond Yields Flying Higher Globally? Exhibit A: Germany/Europe
Mario Draghi was a very polarizing figure for him to be atop a central bank that has no natural constituency. Sure, there is a European Central Bank but there remain National Central Banks which had...
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Saving Jobs Won’t Save Us From Jaws
Mario Draghi’s sunset retirement festivities weren’t supposed to have gone off this way. Celebrated for his July 2012 “promise” to save the euro, he instead spent the entirety of his eight years as...
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Super More Perfectly
Mario Draghi is back to save Italy by now running it. Like Janet Yellen resurfacing at the US Treasury, these people are thought of in the most positive terms simply because the public remains...
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Even The People ‘Printing’ The ‘Money’ Aren’t Seeing It
Everyone in Europe has long forgotten about what was going on there before COVID. First, an economy that had been stuck two years within a deflationary downturn central bankers like Italy’s new...
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Behind The Inflation Curtain (Europe)
When the ECB’s leadership presented their first QE to the assembled media on March 5, 2015, there was a lot of the usual corporate-speak. It sure wasn’t fedspeak, the purposefully obfuscating...
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Inflationary Overheating, Tapering and Terminating QE, We’ve Seen These...
The economy was in danger of running hot, too hot they all said. In order to stay ahead of such inflation potential, as central bankers saw it, first it would be necessary to wind down quantitative...
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