The world’s central bankers, except the EU, have been printing money furiously for the past 6 years, which has ended in disasterous Real Estate bubbles in the US, China and Japan and the markets had been counting on the EU to start printing money soon, but the Germans remember the 1930’s and the Russian’s are pushing the EU into a recession by retaliation against the sanctions for their Ukraine invasion and Crimea annexation.
EU’s potential business borrowers are showing little appetite for borrowing any money from banks so there is no mechanism to transmit Keynesian stimulus to the economy!
Keynesian model fails again, as usual...surprise, surprise!
Must watch for those that haven’t seen this.
Fight of the Century - Keynes vs. Hayek - Round Two
https://www.youtube.com/watch?v=LA1-1DlhuXU