Whatever it takes isn't working

Jordan Eliseo

The Perth Mint

Whatever it takes isn't working. Nearly 2 years after Draghi's 'landmark' speech, which supposedly turned things around in Europe, most of the continent remains mired in or on the fringe of recession. Record high unemployment is stubbornly refusing to fall, whilst youth unemployment is a crisis that threatens to permanently set back an entire generation. Sovereign balance sheets are in worse shape today than they were when the GFC hit (average euro area debt to GDP is 25% higher today than 2008), even if the pace of the bleeding has slowed. News today out of Europe was not encouraging, with year on year loans to the private sector still falling by over 2% y.o.y, highlighting continued absence of demand for credit. Loans to non-financial corporates were particularly weak. M3 did pick up slightly, although it's still well below the ECB's target. More details here (VIEW LINK)


2 topics

Gold bull since early 2000. Have spent +20yrs working in investment analytics, research & portfolio construction. Author of two books on investing in gold and the causes of the GFC. Lover of markets, competition & technology

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.