QE omen dator. Noiz eta datorren astean!
Hona hemen informazioa[1].
EBZ-k 2008an ezagutu zen toxic-waste berpiztu nahi du, QE (quantitative easing delakoa)[2] erabiliz, hau da, espekulazioa eta arrisku hartzea bultzatuz[3].
Hona datorkiguna:
“So in clearing the way to “monetization” of ABCP[4], the ECB is simply heading down the path of Bernanke/Yellen style quantitative easing though a transparent gimmick that may or may not bamboozle the Germans.”
Draghi-k nahi du QE moduko bat martxan jartzea, Alemaniatik ezetz biribil bat entzun barik[5].
Izatez, ez dago ezer berririk eguzkiaren azpian. Ezer ez onik, noski.
Izan ere, Warren Mosler-ek aspaldian gogoratu zigunez[6], QE ekonomiaren gaineko zerga bat besterik ez da.
Blog honetan, ikusia dugu Mosler-en baieztapen hori[7].
[1] ikus http://davidstockmanscontracorner.com/here-comes-qe-in-financial-drag-draghis-new-abcp-monetization-ploy/.
[2] Ingelesez: “…the ECB is now energetically trying to revive the a market for asset-backed commercial paper (ABCP)—-the very kind of “toxic-waste” that allegedly nearly took down the financial system during the panic of September 2008. The ECB would have you believe that getting more “liquidity” into the bank loan market for such things as credit card advances, auto paper and small business loans will somehow cause Europe’s debt-besotted businesses and consumers to start borrowing again.”
[3] Ingelesez: “Purchasing government debt (…) raises the price of the purchased “assets” relative to what would obtain in the unfettered market, and injects fiat liquidity into the financial system in a manner that promotes speculation and excessive risk-taking.” (…) “… central bank purchase of the resulting ABCP would be no different than purchase of treasury notes or Fannie Mae paper.”
[4] APBC: asset-backed commercial paper.
[5] Ingelesez: “Today’s announcement (http://davidstockmanscontracorner.com/here-comes-qe-in-financial-drag-draghis-new-abcp-monetization-ploy/, go to Brian Blackstone at the Wall Street Journal) is just part of Draghi’s desperate attempt to deliver QE next week in a manner which will not elicit a loud “nein!” from his German overseers.”
joseba says:
Tartean jendea galduta eta bolatxoari begira:
https://www.unibertsitatea.net/blogak/heterodoxia/2014/05/07/ekonomia-aztertzen/
Etsenplu berri bat hemen:
http://www.berria.info/paperekoa/1933/020/001/2014-06-01/draghi_jaunaren_hiru_mamuak.htm
joseba says:
Deflazioaz:
https://www.unibertsitatea.net/blogak/heterodoxia/2014/04/02/deflazioaz-hitz-bi/
https://www.unibertsitatea.net/blogak/heterodoxia/2014/04/07/kazetariak-eta-deflazioa/
Bai, ezjakintasuna zabalduz doa, etengabe eta abiadura biziaz…
Aholkua (Warren Mosler):
“DTM-rekin koherentea ez den edozein pentsamendu eskola aplikaezina da gaur egungo edozein egoera ekonomikotan”
joseba says:
Whatever The ECB Does This Week, It Won’t “Deliver A Significant Impulse To The Real Economy”:
http://www.zerohedge.com/news/2014-06-01/whatever-ecb-does-week-it-wont-deliver-significant-impulse-real-economy
“In sum, we do not expect the 5 June measures to deliver a significant impulse to the real economy. Should euro area policy makers step back further from austerity, this would lift the economy in the short-term. Ultimately, however, the euro area needs deep structural reform. For all the energetic talk and many promises, actual progress on this front remains all too slow.”
joseba says:
Europar hauteskundeak eta gerokoak:
i) Spain’s “Stimulus” Plan: An Oxymoron Crafted by Regular Morons
http://neweconomicperspectives.org/2014/06/spains-stimulus-plan-oxymoron-crafted-regular-morons.html
“Rajoy’s “stimulus” plan is an economic joke.”
ii) The Troika Attack Italy for Refusing to Bleed the Economy
http://neweconomicperspectives.org/2014/06/troika-attack-italy-refusing-bleed-economy.html#more-8294
The Troika Ignores Effective Fiscal Stimulus in Favor of Failed Monetary Stimulus:
“Spain’s conservative party did poorly in the election, but Prime Minister Rajoy is getting praise from the troika. His faux “stimulus” plan, which is simply austerity rebranded, is exactly what the troika loves.”
“To complete the troika’s logical incoherence, it is now planning to embrace ultra-aggressive monetary policies while ignoring fiscal policies it knows are effective. Indeed, even the IMF now concedes the point. The title of Wall Street Journal article describing Olli’s latest folly is: “Europe Weighs Risks of Negative Interest Rates” (http://www.nytimes.com/aponline/2014/06/02/world/europe/ap-eu-european-central-bank-going-negative.html?ref=news&_r=1).
joseba says:
The Troika Continues to Harm the Eurozone and the WSJ continues to Miss the Story:
http://neweconomicperspectives.org/2014/06/troika-continues-harm-eurozone-wsj-continues-miss-story.html
“In Spain, one of only two Eurozone nations that had their growth rate increase in the latest month, the troika’s chief troll, Olli Rehn, predicted that it would take until 2024 for Spain to escape the “crisis” phase of the Second Great Depression.“
“The growth rate is so pathetic because demand is so inadequate. If the troika were to adopt stimulus they could produce a far higher growth rate – and if that stimulus program modestly increased inflation it would under the troika’s own logic be highly desirable. Austerity is insane under that logic.”