 |
| European Central Bank Has Big Problems |
By Ted Twietmeyer
|
| On November 24, 2014 European Central Bank (ECB) had yet
another session of airing their problems in public. They clearly proved
the US Federal Reserve holds no exclusive rights to uselessness when it
comes to financial trouble. ECB has certainly proved one basic fact: Self-election of officers using their old-boy network has accomplished exactly nothing. Here some highlights of ECB Weidmann's talk: * One cannot expect a central bank to deliver growth (?) * Bank review did not solve problems with structure (Earlier in this same talk Weidmann stated ECB bank revision made bank sector more stable) * Euro-union faces low growth rates * European Union services directive missed expectations. * High unemployment with youth in Spain a tragedy * Flexible labor movement helps absorb shocks (?) * Monetary policy cannot permanently boot growth prospects * Unfortunate Germany is backtracking on pension reforms (?) * 28 EU digital markets holding back innovation and growth * Monetary policy can influence short-term demand * Important to create European venture capital market * ECB policy is more accommodating than ever before ? - added by author What a load of contradictions! First they claim the ECB cannot help, then they do. Notice how Germany is blamed for not obeying EU "pension reforms." This probably means stealing from pension accounts and giving it to the communist ECB. ECB claims the labor movement can help absorb shocks? Perhaps that shows how they view the economic wave ripple effect, with working men and women standing at the bottom of the Euro pecking order waiting for it to hit. Europe is, and always will be, a collection of different mindsets and cultures. The EU central bank aims to eliminate any kind of independent thought, and force all the member countries to fit into one mold. This shows the ECB functions like socialism or communism. Ted Twietmeyer Data source: FXCM Currency trading news |
| Donate
to Rense.com
Support Free And Honest
Journalism At Rense.com |
Subscribe
To RenseRadio!
Enormous Online Archives,
MP3s, Streaming Audio Files,
Highest Quality Live Programs |