Friday, June 24, 2016

ECB Running Out Of Bonds 
To Buy For QE
Mish Shedlock* highlights how Europe is on the same path as Japan - "Both countries may as well purchase 100% of all the bonds and be done with it. It will not help spur lending one bit, as Japan who is far ahead in this ridiculous endeavor has proven. But central banks are stubborn. They will never change their inept ways. This is a perfect example of Fed Uncertainty Principle Corollary Number Three: 'Don’t expect the Fed to learn from past mistakes. Instead, expect the Fed to repeat them with bigger and bigger doses of exactly what created the initial problem.' Simply remove the word 'Fed' in the previous sentences and replace with ECB, Bank of Japan, or any other central bank of your choice."
LINK HERE to the article

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