The ECB Boiler Room, Part 2
Just as China grapples with the scale of economic waste induced by heavy monetarism, Europe has that old 2011 feeling again of financial waste. Mario Draghi’s July 2012 promise to “do whatever it takes” was taken by banks and financial “investors” as a free-for-all to ride severely discounted sovereign debt to tremendous profit. They did so much of that the [...]
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