Deflazioaren aurka: interes tasa %0an

(a) Albistea: Draghi-k onartua: diruaren interes tasa %0an.

Draghi-k segitzen du lekuz eta denboraz kanpo.

Ba ote daki politika monetarioak, QE desberdinak barne, ez duela funtzionatzen?

Zergatik ez erabili neurri fiskalak?

(b) Azkena aipatzearren, gogoratu B. Mitchell-ek dioena, in DTM: gogoratzekoak,


(c) Zenbait iritzi2: ikus

Frances Coppola@Frances_Coppola

So rather than cutting the MRO rate to negative, ECB is offering negative rate funding to banks that lend a lot to the right people.

2016 mar. 10

Andrew Sentance@asentance Duela 14 ordu

@Frances_Coppola We’re now in an Alice in Wonderland monetary world. Nothing is what it seems and actions have wierd/perverse consequences.

Frances Coppola@Frances_Coppola Duela 14 ordu

@asentance we have been slowly going through the looking glass for the last few years, Andrew.

Dino@danjohnmyers Duela 14 ordu

@Frances_Coppola the contortions have become so desperate, i think they should just print/credit money to every person

Frances Coppola@Frances_Coppola Duela 14 ordu

@danjohnmyers They are officially not discussing helicopter money. You know what that means.

Stuart Medina Miltim@SMiltim Duela 12 ordu

@Frances_Coppola Who cares? Monetary policy is useless. How about some fiscal, yes FISCAL, tools? Any intelligent life in Brussles?

Frances Coppola@Frances_Coppola Duela 12 ordu

@SMiltim no. Whatever there was left a long time ago.

JohannesBorgen@jeuasommenulle Duela 12 ordu

@Frances_Coppola We have a problem when a central bank decides who are the “right people”

Frances Coppola@Frances_Coppola Duela 12 ordu

@jeuasommenulle central bank making political decisions

(d) Nothing new: ikus Draghi-k ez du ezer ikasi! (2)

(e) Funtzionatzen ote du Mario Draghi-ren bazokak?

Ikus Super Mario colpisce ancora3


Mario Draghi non ha deluso le attese dei mercati.

Ikus EURO PeCKeR…4

Hurrengo tiro arte?

Zenbat tiro egin du jadanik Draghi-k?

Ez ote da gehiegi?

1 Ingelesez: “Even in the Eurozone, where the Member States surrendered their fiscal sovereignty, there is still massive fiscal space available if the ECB abandoned its neo-liberal approach and instead funded increased Member State deficits.

In my current book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale – I show how that could be done even within the restrictive rules of the current treaties.

The ECB could simply announce that it will buy all public debt issued, the purchasers taking place in the secondary market to work around the so-called ‘no bailout clauses’ and the European Commission could simply agree that the rising deficits were to meet extraordinary circumstances, thus circumventing the mindless Excessive Deficits Mechanism rules and procedures.

Before long, the Eurozone nations would be increasing employment and enjoying higher real GDP growth and observing the individual fiscal deficits of the Member States declining as the increased tax revenue (by the automatic stabilisers) responded to higher employment and levels of economic activity.

The only thing preventing that fortuitous outcome is the Neo-liberal Groupthink that the European policymakers remain trapped within.

Iruzkinak (1)

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