ECB 'Bazooka' Extended - Will Buy EUR 60 Billion Per Month Until At Least December 2017
The ECB's 'Bazooka' is back and ‘Super Mario’, the European Central Bank’s monetary magician did not disappoint QE addicted markets yesterday by extending ultra loose monetary policies and quantitative easing until at least December 2017.
European and Asian shares rose again and S&P futures were little changed, as world stocks were set for a weekly gain and held near 16-month highs on Friday, while the euro steadied after swings following the European Central Bank’s decision to extend its stimulus program. Oil rose a second day before a meeting between OPEC and other major producers on output cuts, industrial metals gain.
Submitted by Alex Gorka via Stratgic-Culture.org,
Matteo Renzi resigned as the Italian Prime Minister after the people of Italy voted «no» in a historic referendum on constitutional reform on December 4. The vote results triggered a shock wave across Europe much like Brexit. It’s up to Italian President Sergio Mattarella now to decide what will happen next – an appointment of new prime minister supported by parliamentary majority or a snap election, paving the way for an anti-euro party, the 5-Star Movement, to come to power.
Submitted by Gail Tverberg via Our Finite World blog,
Our economy is a mystery to almost everyone, including economists. Let me explain the way I see the situation:
(1) The big thing that pulls the economy forward is the time-shifting nature of debt and debt-like instruments.