Thursday, March 10, 2016

Anything Is Better Than Giving Up Power

From today's WSJ:
FRANKFURT—The European Central Bank unveiled a major new stimulus package on Thursday that included a mix of interest-rate cuts, additional bond purchases and ultracheap loans for banks, signaling its determination to bolster the eurozone’s fragile economy and combat stubbornly low inflation.
It's almost comical to see the ECB continually thrash about with interest rate cuts, money printing and asset purchasing, trying to get the Euro economy to move. Maybe if they untied the thing it would finally get going.

Nah. Untying it would have to take the form of removing regulations and each regulation is a bit of sweet, delicious power the governments have over people and businesses.

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