I am sorry, it could be my personal distress as events on a tumultous tumbled expiry make my 99% confidence interval worthless to the skunk works of getting commercial success. However, Draghi’s push for the Euro after repeated commentary on the limitations of a monetary push and a fiscal cliff facing the US of A in three more months looks to me like a recipe for continued disaster, with commodities running u p with the Euro and demand going southside in growing bastions, making another generation long standoff now likely to be emulated from the Yen in not just America but Europe as well.
Weathering a recession must have more to the human spirit than more handouts, esp when no one is doing charity at home. the Euro though is still at the 2169 it had on Monday’s involuntary peak and it could still just go back to 1.26 as you get to absorb the understanding we now have of the rebuilding at hand, earlier known to only the few.
Nowotny’s comments I earlier regarded as largely ignored in keeping with his earlier standoffs and the track record of eCB to adopting from those habited to a standoff could also probably glandden German Economist Mueller and the bundesbank Chief, as it now finally seems an open house of bedlam where as long as the money keeps coming, nothing bad can happen. But, hey Draghi is a great man and i am just being uncharitable because, you know, a select no good gang of no gooders is still doing well somewhere
The FOMC meets next week and as Mario Draghi said, why duplicate efforts when governments could be doing the required. Or that Nowotny’s ideas of a ESM banking licence would still require the ECB to do much the same issuing own debt to fund these bankrupt governments.
The trouble is, in this line of thinking that the Jobless claims came out a sunny 350k and people have been spending in the US in May without moving any retail sales data or of course income and wage data more than turning recession proof.
- Debt crisis: Euro jumps on back of bigger bailout fund hint from ECB(independent.ie)
- Eurozone fears ease on hopes of ECB intervention(guardian.co.uk)
- The euro is “irreversible” and not in danger, says Draghi(telegraph.co.uk)
- UPDATE 2-ECB’s Draghi says euro not in danger(uk.reuters.com)
- ‘Insignificant’ euro counterfeits found in Malta(timesofmalta.com)