There’s some irony to the unprecedented bond-buying that central banks used to overcome the financial crisis The cause of the crisis, you may recall, was caused by an overheated market…
Mutually Assured Destruction
Iran, North Korea and the world’s other despots may be able to take over the world without going nuclear or even firing a single shot. That’s because much of the…
Bazooka or Blunderbuss?
Any day now, it seems that European Central Bank President Mario Draghi’s full head of hair will migrate to his chin and turn gray, as the central banker morphs into…
Less than “Less than Zero”
In June, the ECB lowered the interest rate on bank deposits, including reserve holdings in excess of the minimum reserve requirements, from zero to -0.10%. This week, surprising just about…
Mario the Magnificent
It will take more than higher prices to cure what ails the European economy, but Wall Street reacted to the European Central Bank’s inflation-boosting efforts by setting new records yesterday.…