Below you'll find a list of all posts that have been tagged as “European Central Bank”
In this extraordinary essay, Dimitris Konstantakopoulos illustrates what is currently happening in Greece. Dimitris, is a renowned journalist and founder of the Delphi Initiative (website of the Delphi Initiative: http://www.defenddemocracy.press/), a group of Greek and international intellectuals who met last June in Delphi – the birthplace of ‘Democracy’ some 2,500 years ago – in the hope of finding alternatives to the current systematic destruction and …
Last month the Bank of Japan (BoJ) expanded its QE program and negative interest rates (NIRP) in a desperate attempt to reboost its stock market and Yen exchange rate. This past week the European Central Bank (ECB)went a step further, as both the ECB and BoJ continue to engage in ‘dueling QEs’ that are intensifying global currency wars and slowing global trade. ECB chairman, Mario Draghi, lowered the Eurozone’s negative rate on government bonds another notch, now to -0.4%. Reportedly half of all government bonds in Europe now trade at negative rates. In addition, the ECB raised its monthly buying amount from $66 billion to $88 billion, and now will buy corporate bonds as well. The move subsidizes Euro corporations, lowering their costs of borrowing and insurance (CDS) on bonds, a move to offload the $1.5 trillion in corporate non-performing loans in Europe. Jack Rasmus explains why this won’t have any effect on the Eurozone real economy but will temporary boost stocks and currency. Jack also reviews why global oil prices have risen recently to $40 a barrel, Japan’s official return to recession after doctoring GDP numbers last 3Q2015, China’s latest ‘mini-stimulus’, the US deepening control of Ukraine’s economy, and the significance of the ‘Socialist’ government in France new attack on eliminating the 35 hr. workweek, where 90% of all jobs created in 2015 were part time and temp, and the mass protests now emerging there. Jack concludes with brief introduction to his forthcoming May 2016 book, ‘Looting Greece: The Emergence of a New Imperialism’, and his next book out October 2016 entitled, ‘Central Bankers on the Ropes’, both from Clarity Press. (see his blog, jackrasmus.com and Clarity Press for more information).
Global Equity Markets In the past year the stock markets in China erupted, contracting by nearly 50% in just three months, after having risen in the preceding year by 130%–truly a ‘bubble event’. That collapse, commencing in June 2015, continues despite efforts to stabilize it. Chinese bankers then injected directly $400 billion to stem the decline. Including other government and …
Trend forecaster Gerald Celente lays it on the table, dissecting why the bounce back in markets the last few days is bunk. After equity markets worldwide suffered one of the worst starts of a new year in history, stocks suddenly rebounded. For example, the Nikkei closed out last week at its lowest level since October 2014. But what economic fundamentals spiked prices higher this week? Was it the dismal news that Japan’s economy contracted 1.4 percent in the last quarter? No. What boosted stocks prices was the twisted rationale that despite the Bank of Japan firing two rounds of blanks from its “monetary bazooka,” the lousy Gross Domestic Product number was cause to launch yet another round of stimulus. Before Chinese markets opened Monday after being closed for a week, the Shanghai Index had fallen 47 percent since its peak in June. Was it on the rotten news that China’s exports fell 11.2 percent in January and imports plunged 18.8 percent that markets rallied? No. As with Japan, the dismal data was taken as a positive sign that the People’s Bank of China would take bold measures to boost sluggish growth. “Confidence,” trust the effectiveness of the rigged market game, not economic fundamentals, was the rationale for stocks suddenly moving higher. Tuesday’s New York Times headline summed it up: “Global Shares Buoyed by Investor Faith.” Yes, faith in more failed central-bank stimulus and stock and bond buyback sideshows… not faith in true price discovery and robust Gross Domestic product growth.
When you lend When you lend somebody money, they usually have to pay you for the privilege. That has been a bedrock assumption across centuries of financial history. But it is an assumption that is increasingly being tossed aside by some of the world’s central banks and bond markets. A decade ago, negative interest rates were a theoretical curiosity that …
Seven years after the global financial crisis erupted in 2008, the world economy continued to stumble in 2015. According to the United Nations’ report World Economic Situation and Prospects 2016, the average growth rate in developed economies has declined by more than 54% since the crisis. An estimated 44 million people are unemployed in developed countries, about 12 million more than …
Everyone take a deep breath. This isn’t 2007 again. The banks aren’t loaded with $10 trillion in “toxic” mortgage-backed securities, the housing market hasn’t fallen off a cliff wiping out $8 trillion in home equity, and the world is not on the brink of another excruciating financial meltdown. The reason the markets have been gyrating so furiously for the last couple weeks is because stocks …
Jack Rasmus comments on the worried commentary about the global economy today coming out of this week’s World Economic Forum in Davos, Switzerland. The annual meeting of the big capitalists globally is producing a stream of concerned remarks on China, global oil, and drift toward deflation—all topics Rasmus focuses on in the release of his new book, ‘Systemic Fragility in the Global Economy’ , by Clarity Press. (see his blog, jackrasmus.com for sample chapters). Jack then reviews on the show important economic events and news of the past week, including Eurozone Chairman, Mario Draghi’s, pledge to expand QE in March, growing problems in European banks’ loans, capital flight from China and emerging markets, the admitting by the US business press that low oil prices are having no effect on the US economy and early reports that fourth quarter US GDP is coming in at only 0.6% growth according to the Fed and there’s a 50-50 chance of US recession this year.
William White is one of the world’s top economists. He was the head economist for the Bank for International Settlements (BIS) – the world’s most prestigious financial institution, called the “central banks’ central bank – comprised of the world’s central banks. He is now the chief economist for OECD, made up of most of the world’s richest and most powerful …
Gerald Celente breaks down how the talking airheads on business broadcast media keep missing the larger picture of crumbling worldwide economies and the undeniable underlying factors that ultimately will determine economic fate and your bottom line. While future quantitative easing measures or other central bank interventions may temporarily pause the sharp declines in markets worldwide, Global recession and even depression in some countries are unavoidable. Celente tells you what you need to know now.
