Are you looking for an exit strategy from the historic amount of economic stimulus and quantitative easing that has dominated global stock and commodity markets? Well look no further than Europe. While we here in the United States are raising the possibility of more quantitative easing and more ways to stimulate the economy, the President of the European Central Bank Jean Claude Trichet is sending signals he is looking for a way out. Yes, I know. It’s crazy! The EU and its three freaking pillars were on the verge of crumbling into pillars of dust just months ago.
Now EU growth is improving and even Greece passed the EU stress test and now Mr. Trichet seems to be stopping just short of flying a “mission accomplished” banner. Of course Jean-Claude, ever the optimist, said not long ago that people were just too darn negative on the EU and now he seems to be saying get ready to start the long road back to economic normalization. The US on the other hand, has Fed Governors talking about Japanese style Deflation.....
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1 comment:
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