Fascinating article, Raul. I would just say that growth that is slow, ie., the new normal, is pretty much all we have left. The Fed cannot allow greater growth, because it cannot raise interest rates and destroy the value of sovereign bonds. As for the Eurozone, the TLTRO program, if expanded, could help the real economy. I am not a fan of the #Eurozone, but #Draghi may be a little smarter than the rest of the worlds' central bankers. Only time will tell.
Globalization Is Dead, But The Idea Is Not
Fascinating article, Raul. I would just say that growth that is slow, ie., the new normal, is pretty much all we have left. The Fed cannot allow greater growth, because it cannot raise interest rates and destroy the value of sovereign bonds. As for the Eurozone, the TLTRO program, if expanded, could help the real economy. I am not a fan of the #Eurozone, but #Draghi may be a little smarter than the rest of the worlds' central bankers. Only time will tell.
Central bankers believe that they can provide free lunches
Great article and true on every level. #Draghi's policies are doomed to fail.