Europe

Submitted by David Stockman via Contra Corner blog,

Mario had a bee in his bonnet yesterday morning. Apparently, the chorus of German voices pointing to the obvious—- that his policies are killing savers, insurance companies, pension funds and banks—-got his dander up:

“We have a mandate to preserve price stability for the whole of the euro zone, not only for Germany,” he said. “We obey the law, not the politicians, because we are independent.”

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

Part 3 of a series on Hamilton: "Hamilton’s Good for the Ten-Spot" and "Alexander Hamilton: Defender of Property Rights."

Just as US equity futures were about to roll over following some very substantial misses yesterday by the likes of Google, Microsoft, Starbucks and a plunge in Visa shares, overnight who came to the markets' rescue but the BOJ, when shortly after midnight Bloomberg reported that "according to people familiar with talks at the BOJ" which is the traditional keyword for a BOJ source testing out the market's reaction, Japan's central bank may "help" local banks to lend by offering a negative rate on some loans.

You know the British establishment is in full panic mode when not only do they allow President Obama to visit the nation just a month after throwing Cameron "distracted by other things" and his European neighbors under the bus over the collapse of Libya, but, despite 100 members of Parliament signing a letter telling Obama "not to interfere" with Britain's domestic affairs, The Telegraph prints an Op-Ed in which the lame-duck president lords it over the British citizenry with a veiled threat that should they "his friends" leave Europe, the "special relation

Russia have deployed 50,000 police and National Guard forces to the oblasts along the western border with the EU, ahead of an oncoming assault of ISIS militants from Turkey.  According to a Federal Security Services report, thousands of highly trained Islamic terrorists are going to launch an attack in Europe due to Turkey allowing an unprecedented flood of millions of Syrian migrants through their borders.