“I don’t think another $trillion in purchases is enough to achieve what the ECB is trying to do.”
It’s always, always, “just a bit more” with these guys.
So the US pulls back on QE but the ECB goes nuts, the Chinese Central Bank is in semi-crisis mode, and the the Bank of Japan is hitting the gas while driving down an icy mountain road. This isn’t healthy. This does not reflect a global economy on the mend. The depression continues for much of the world.
Mr. Obama said in his State of the Union Address on Tuesday that the “shadow of crisis is passed.” What is he thinking? Perhaps he should stop watching ESPN all morning as he said he did recently and turn on Bloomberg or CNBC. Better yet why not pick up a Wall Street Journal or an IBD.
The shadow of crisis has passed my foot.