European central bank goes all in on money printing

by **Sixstrings** » Fri 05 Aug 2011, 12:40:10

Markets rejoice! Welcome, comrades, to the centrally planned economy! It's all great on paper but is this sustainable..

Stocks, Euro Surge On Another Central Bank Intervention Announcement: ECB Ready To Buy Italian, Spanish Bonds

More central bank intervention headlines, and the euro and stocks, which earlier were plunging without a floor, surge:

ECB ready to buy Italian and Spanish bonds if Berlusconi commits to bring forward specific reforms according to sources
ECB expects Italy to fast-track welfare reform, fiscal rule for bond purchases according to sources close to talks
EU leaders applying intensive pressure on Berlusconi to make an announcement according to sources
Said otherwse, open the QE floodgates. Globally. Central banks now control it all. Net result, a 100 pip surge in the EURUSD, and a halt to the market plunge. For at least a few more minutes...
http://www.zerohedge.com/

by **Sixstrings** » Fri 05 Aug 2011, 12:55:22

Interesting.. as part of the ECB deal to buy Italian bonds, Italy will pass a balanced budget amendment to its constitution:

Measures to be announced include a plan to amend the constitution to make a balanced budget mandatory, a second constitutional change that would force “closed professions” to liberalise services, a speeding up of welfare reforms, and other structural reforms designed to boost Italy’s stagnant economy.
http://www.ft.com/intl/cms/s/0/33c589d8-bf7b-11e0-90d5-00144feabdc0.html#axzz1UArZCKnX

As corrupt as Italy is, I have my doubts.. they can't even get trash off the street in Naples because of the mafia..

EDIT:

The Just Announced ECB Market Rescue Pledged 133% Of German GDP To Cover All Of Europe's Bad Debt
http://www.zerohedge.com/news/explaining-how-just-announced-ecb-market-rescue-pledged-133-german-gdp-cover-all-europes-bad-de

by **timmac** » Sun 07 Aug 2011, 15:01:42

How and why are Europe and us here in America are allowing the governments to just keep borrowing into such massive debts that its never going to be paid off..

Is the whole freaking world a sleep..

by **basil_hayden** » Sun 07 Aug 2011, 15:32:04

timmac wrote:How and why are Europe and us here in America are allowing the governments to just keep borrowing into such massive debts that its never going to be paid off..

Is the whole freaking world a sleep..

Exponential population growth versus geometric resource growth, dig it?

Someone (Anvil? Ache?) posted a part of an interview between Chris Martinsen and Hagens recently that left an impression on me. It went something like the US should strive to live like Chinese and Pakistanis, not the other way around.

Get used to it.

by **americandream** » Sun 07 Aug 2011, 16:14:03

Sixstrings wrote:Markets rejoice! Welcome, comrades, to the centrally planned economy! It's all great on paper but is this sustainable..

Stocks, Euro Surge On Another Central Bank Intervention Announcement: ECB Ready To Buy Italian, Spanish Bonds

More central bank intervention headlines, and the euro and stocks, which earlier were plunging without a floor, surge:

ECB ready to buy Italian and Spanish bonds if Berlusconi commits to bring forward specific reforms according to sources
ECB expects Italy to fast-track welfare reform, fiscal rule for bond purchases according to sources close to talks
EU leaders applying intensive pressure on Berlusconi to make an announcement according to sources
Said otherwse, open the QE floodgates. Globally. Central banks now control it all. Net result, a 100 pip surge in the EURUSD, and a halt to the market plunge. For at least a few more minutes...
http://www.zerohedge.com/

About as centrally planned as Henry VIII's economy. Only beneficiaries are a narrow band of the rich and Royal courtiers.

by **timmac** » Sun 07 Aug 2011, 16:28:20

pstarr wrote:
basil_hayden wrote:
timmac wrote:How and why are Europe and us here in America are allowing the governments to just keep borrowing into such massive debts that its never going to be paid off..

Is the whole freaking world a sleep..

Exponential population growth versus geometric resource growth, dig it?

Someone (Anvil? Ache?) posted a part of an interview between Chris Martinsen and Hagens recently that left an impression on me. It went something like the US should strive to live like Chinese and Pakistanis, not the other way around.

Get used to it.
If only we could live like the Chinese or Pakis. Suburban America has long passed the point when it could adapt to a lower-energy state. Our food is too far (hidden on mega farms in Kansas or irrigated Mexican favelas in Cal/Texas), our industry has been exported to the third world and we are stuck with expensive highways strip malls, oversized expensive houses (to heat and cool), and endless commutes in giant cars.

dream on.

Well nothings holding you two back, get a ticket and get out of here and go live with the Pakis..

by **basil_hayden** » Sun 07 Aug 2011, 17:07:00

Won't have to, it's coming whether you like it or not.

by **peripato** » Mon 08 Aug 2011, 01:07:12

basil_hayden wrote:Won't have to, it's coming whether you like it or not.

Bondholders and the laws of physics want, nay, demand austerity!

European central bank goes all in on money printing

European central bank goes all in on money printing

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