From The Telegraph (UK)…ECB largess not infinite.
DIVISIONS IN THE EUROZONE OVER ECB BOND-BUYING
The eurozone was facing fresh splits today after one of the European Central Bank’s most senior figures said the bank should not be used to fund national debts and that if it was forced to, it would mean the end of the single currency.
17 DEC 2011
“In the interview [Juergen Stark] said: ‘It is the fundamental arrangement of this [...]
Let’s talk about maybe one of the reasons why QE2 failed. In your view, will they announce another QE3 or QE4 as some on Wall Street anticipate if the economy weakens?
Well, unfortunately, they feel they have to do something. But in all honestly, as I think they do realize, they can’t stop it because we are in a global economy. I mean, you take the QE2 idea, then okay, [...]
Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.
The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world’s predominant national currencies.
A combination of factors accounts for the weakness, with the Federal [...]
Much of what have propped things up for the last 2 years is being withdrawn as austerity starts to bite. In tech innovation a lot of competition is also starting amongst manufacturers and such leading innovators as Apple ma y well be hard up as a combination of competition lowers higher price mark-ups, something they have had the luxury of being able to do, [...]
President ObamaÃ¢â‚¬â„¢s nomination of Elena Kagan to the U.S. Supreme Court is, essentially, the same type of governing act as the EU decision to bail out European banks vulnerable to the Greek crisis. In both instances political leadership serves the interests of financial elites Ã¢â‚¬â€œ plutocracy advancing while veiled by supposedly democratic institutions. In both cases the power of government grows as it defends the critical interests of financial policy [...]