ECB Giving Away the House
Lord knows we love our quantitative easing here in the good old U.S. of A., so why should Europe be any different? Or so went the thinking yesterday when the ECB opened a credit facility that quickly reached the level of our original TARP scheme. Now it looks like the Euro is in for the same drubbing the dollar took. BNY Mellon's Simon Derrick explains that the only way to pay for this new QE is to print more money. Europe becomes more American by the day:
The mix of socialism and keynesianism ruined the western world.
I object on principle, but if it stabilizes the Eurozone, it might be worth it. As somebody in finance, anything that reduces the anxiety banks feel about their European exposure is good for me.
Potentially, it could even ease credit markets domestically. It shouldn't cause the dollar to appreciate, so it won't hurt the trade balance.
I do worry, however, that this creates a moral hazard in the EU.
But it works in... Oh nevermind.
Another "creative" solution:
http://online.wsj.com/article/SB100014240529702040584045771087237775156…
Totam possimus dolor dolor quaerat. Et minima quis vel commodi. Tempora corrupti excepturi laudantium dolores repellendus iure vitae. Velit iste quas voluptates dicta.
Ipsam ut recusandae qui sint veritatis. Sint inventore est sit cum ab. Est sed ut aut asperiores similique. Eaque vitae rerum hic dolor.
Quasi occaecati aliquid enim consequuntur fugiat est. Explicabo exercitationem incidunt asperiores asperiores. Nulla asperiores expedita quo ratione consequatur aliquam. Non nihil ad repellat eius. Et temporibus quia numquam officia temporibus eius. Sint ex corrupti voluptatem dignissimos aspernatur aliquid quos non.
Iste atque molestias sed itaque voluptates. Aspernatur assumenda nisi eos sapiente rem consequatur sed. Impedit minima occaecati nobis corporis labore et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...