The ECB’s Draghi rolled out his now completely emptied monetary bazooka this morning with even more negative rates for banks and even more QE recycling of junky financial assets through central bank prestidigitation. The algos pinged the headlines as financial markets roared initially on the news, and then hit the skids once more. Reality dawning: monetary magic is now all gone.
A clip from the South Park episode Margaritaville; season 13 episode 3. Here is a direct video link.
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