Tag Archives: Eurozone

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


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.


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


Bundesbank Special Ops Group (Deutsche Mark Reappears?)

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It makes sense that there is a secret group within the Deutsche Bundesbank working on a plan to resurrect the Deutsche Mark. It would be a gross failure of national risk management if they did not have a plan. Call … Continue reading