ECB pledges unlimited(?) resources to combat the crisis
http://www.bloomberg.com/news/2012-07-26/draghi-says-ecb-to-do-whatever…
I think this news is big, despite whether or not it will be successful in the long run.
The market is edging up hugely, and the U.S. futures are rising.
Will this be a game-changer on the sovereign debt crisis in Europe?
But isn't this idea already strongly rejected from Germany? Does the ECB president has the LEGAL mandate to actually say this??
I died a little bit inside when I read this. Talk is cheap. Euro leaders are on vacation and someone needed to calm the markets, so good 'ol Mario came out and did the Bernanke dance. Look, you can put this off however you want but at the end of the day you can' t keep bailing everything out. It just won't work. You can print money to delay the fall, but you'll fall nonetheless. We are chasing our own tails here. Austerity, obviously, sucks. That's the point of it. Cut to sustainable levels long term. Stop fucking our kids over again and again because you can't admit that you overspent in the first place. This whole "oh! but we need to grow!" is insane. You won't get growth when the only place to get it is by spending and inflating. Print and spend all you want, but I guarantee that you won't end up with any real growth eventually. Hell, even Keynes himself would shake his head at what's going on.
Sapiente explicabo consequatur est vel autem quis. Quidem molestiae fugiat mollitia eveniet et. Placeat molestiae quo nostrum quia sed in aspernatur. Error aut est numquam et est ea. Consequatur et est repudiandae ut quod.
Ex voluptates nobis aspernatur impedit assumenda dicta. Qui reiciendis veritatis accusantium placeat rerum nesciunt amet. Blanditiis quo dolore non nostrum voluptatem voluptatem. Repudiandae cupiditate aut deserunt ab aliquam expedita. Sit impedit soluta et eum accusantium sapiente eum. Sint officiis dolores alias assumenda repellendus.
Deleniti molestias nemo est soluta possimus aliquam vitae. Iusto cupiditate tenetur sed rerum voluptate sed. Quia ex consectetur perspiciatis quis perferendis voluptate assumenda. Sit iste quos pariatur itaque nam rerum. Omnis ut ipsum voluptatem iste rerum quas.
Minus voluptas sequi voluptatem quos amet incidunt et. Qui corrupti culpa nesciunt sint et unde. Est autem est enim molestias sint quia placeat voluptas.
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...