Finally, the Truth is Spoken
This is a late in the day post, 2:30 PM CDT.
Mario Draghi has finally said what Bernanke should have said in 2011, and Yellen should have said at her confirmation. Draghi said, “we cannot do it all, the governments have to put together massive structural reforms”. Bernanke didn’t have the guts to call a spade a spade, it was easier to throw funny money at the problems.
You can thank the Republicans in the House for all that is going to happen next.