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Bazooka Economics

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Bazooka Economics


Bad policies yield bad results.

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by Stephen Lendman

Did he or didn't he? ECB president Mario Draghi promised "whatever it takes." Great expectations arose. August 2 was D-Day. 

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Fizzle followed sizzle. Bazooka plans stalled. More on Draghi's pronouncement below and what it means.

Europe's economy is broken. Monetary intervention solved nothing. Core problems fester and grow. Contagion spreads everywhere. Effective solutions are absent.

Bankers are prioritized over sound economics. Western policy makers march to the same drummer. Ordinary people suffer. Poverty, unemployment, and deprivation grow exponentially. Nothing ahead looks promising.

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On August 2, Draghi spoke . Markets want instant gratification. Disappointment followed. Der Spiegel headlined "ECB Disappoints Investors with No Euro Action," saying:

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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