<<"...From boom to a little less boom doesn’t sound so bad, entirely the man’s point. It’s just that it’s not a valid one.
To buy his premise you have to believe Europe was, at some point, booming. Germany’s bond market, importantly, never did. Bill Gross was right about his “short of a lifetime” – if only he had first been right about the effectiveness of QE. Had it actually worked, created an actual boom, Gross’s investment advice would’ve paid off handsomely...."
"...Even at the height of worldwide inflation hysteria, the only tangible results of Draghi’s work, German yields never got much higher than they were at the lowest points in their long history. Draghi kept saying boom, the bund market kept responding, we just don’t see it...">>
My conclusions after reading this excellent article:
1. Draghi loves Europe
2. Draghi believes that Germany=Europe
3. Draghi loves Europe so much that his only, single-minded effort is to help boom up Germany's ( aka Europe's) bond market.
4.Germany, in her great effort to satisfy her own and her dear friend's gentle, not greedy ambitions, works hard to increase her yields/bonds et al -though unsuccessfully- but in the meantime, she de-booms, down-booms, crush-nose-on-the-ground-booms all other European countries , especially some PIGS , but mostly the bullied, harassed, befooled and defrauded Greece...
Seemingly, they all fail to realize that it is not the 'harbour' that is crooked/distorted but their uncouth, crude, uncivilized, cruel, inhuman choices of 'navigating'...
Maria L. Pelekanaki
