Even in this time of everyday turbulence, sometime I simply must stop to smell the roses for a few minutes. A 12th sigma event is one of those times.
Why we think we can tame a hurricanes is beyond me?
So the ECB is buying bonds and Europe went overdrive with the STOXX 50 up almost 9%, the Euro back above 1.29, gold down a bit and oil following with a lackluster 3.5%.
Of course one must ask: where does this money come from?
Now if any of you can explain this last last link to me I would be most grateful. Trying to understand when things are QE and when they are not can be most maddening.
... And of course you could have predicted Jesse's take of all this.
Krugman can be so darn helpful at times... I may not always share his values but I'm very fond of him and I do think one day we minions of the blogoshere should bestow on Paul (and a few others, like Jesse) honorary "thank you" degrees or something.
PS- Interesting older Yves piece on Naked Capitalism for the fractalholics amongst us.
Health care has definitely been bubbling for 40+ years now ;-)
Total USA Debt
9 months ago