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Posted on 04/23/2012 8:26:03 AM PDT by whitedog57
According to Bloomberg, The Netherlands is experiencing backlash against austerity, France is seeing Sarkozy possibly losing to a Socialist and Merkel’s austerity policies are coming under increased attack. This, of course, is no surprise. No one wants to pay for the massive entitlement and government spending programs. So, the answer is … print more money.
Fed Vice Chair Janet Yellen said today that there will be no monetary tightening after Operation Twist expires. On it’s own, expiring Twist will in the 10 year rising about 25 basis points.
Notice that the U.S. Treasury 10 year yield dropped this morning while Europe’s PIIGS are seeing rising yields (except Portugal).
And we see Eurozone CDS rising. Even The Netherlands breached the 100 barrier.
With a glacially growing economy and Europe going “Full Krugman” (meaning backing off austerity as Krugman and Stiglitz suggest), I see the likelihood of QE3 as increasing (despite Yellen’s denial).
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Just like the US, no one wants to cut spending and gov'ts will now use this as an excuse for MORE spending.
I like the reference to "Full Bernanke." I don't know if the author was referring to Tropic Thunder with Ben Stiller or not. But funny nonetheless.
Just checked junk silver. Around thirty bucks. May be a huge buying opportunity.
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