With Europe on the verge of a severe recession thanks to green energy boondoggles, two years of catastrophic lockdowns and embargos on much of their outside energy supplies, don’t expect the goal of getting interest rates above zero to be achieved for very long, if at all.
When forced to reverse course back to even deeper negative rates, Keynesian apostle Christine Lagarde may conveniently forget that she ever said the following:
Against the backdrop of the evidence I presented above, I expect net purchases under the APP to end very early in the third quarter. This would allow us a rate lift-off at our meeting in July, in line with our forward guidance. Based on the current outlook, we are likely to be in a position to exit negative interest rates by the end of the third quarter.
Progressives essentially know nothing about how society (especially the dirty, productive, working-class part) functions.
As has often been said on SDA “We need a famine”. This just might hurry it along. May the end result be those people most deserving to be the first up against the wall.
Lagarde might be stupid enuff to be in Juthtin or Joe’s circle of Idiots In Power.
The ECB can buy up all the debt it wants, but its currency is going to suffer terribly as interest rates mount elsewhere.
Oh it will get achieved.
What you are witnessing is what happens when you run out of Chinamen welling to lend to you at well below a sensible rate of return. It made sense when China was buying influence in western governments.
A suicidal war with Russia wasn’t part of the deal. China isn’t interested in financing that. Just in being last man standing afterwards.