Tag Archives: ECB

Understanding the latest QE

On January 22, 2015, the European Central Bank announced a new QE program. In this audioblog, I attempt to decode what was done and the risks that it involves. 1. What is QE? Campbell Harvey: (MP3) 2. What is the … Continue reading →

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Posted on January 23, 2015 by charvey

Treating the Symptoms

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A massive €530 billion liquidity injection occurred in Europe today in the form of LTRO. This helicopter drop does not solve the Eurozone’s problems: it merely delays them. The ECB is treating the symptoms not the disease.

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Posted on February 29, 2012 by charvey

The Run on Europe

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There is a lull in negative news from Europe. However, it is short lived. There are four facts that are very important to understand: Most European banks are insolvent The ECB is massively monetizing to keep the system operational Germany … Continue reading →

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Posted on January 12, 2012 by charvey

The Last Man Standing

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Which is a greater force driving volatility: uncertainty about whether the U.S. can get its budget act together or Europe’s future? I would argue that Europe poses a much greater risk — and it is less understood in U.S. markets. … Continue reading →

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Posted on November 18, 2011 by charvey