Bloomberg: “Stocks rose around the world, extending Thursday’s rebound from a 2 1/2-year low, on speculation that central banks will expand stimulus measures to counter turmoil in financial markets. Oil surged with emerging-market currencies, while haven assets retreated.
European shares headed for the biggest two-day gain since 2011, the euro approached a two-week low and Spanish and Italian bonds rallied after European Central Bank President Mario Draghi indicated he may bolster economic support as soon as March. Crude was poised for its steepest two-day rally in five months and the Russian ruble rebounded from a record low. Asian stocks climbed the most since September on speculation Japan and China may also take steps to calm markets.”
Opinion: Mario Draghi (Italian for dragon) is the Janet Yellen of Europe. The head banker.
With one sentence “We are adapting our instruments to the changing conditions,” Draghi sent the global markets on a rally. So what does it mean?
Stimulus, also known as Quantitative Easing (QE), means that Chairman Draghi is willing to keep manufacturing money to deposit into banks. The happy bankers then take that money and buy stocks and bonds and wham-o Batman, everybody is as happy as can be.
Yes, Virginia, QE makes the mountain of debt grow so large that it will one day become impossible to pay back, but since virtually no one cares, and the market is up, it’s time to party for now.
It is little wonder that when the Black Horse Rider (Revelation 6:5-6) comes on the scene, the party will come to a screeching halt.
Hyper-inflation is a sudden phenomenon.
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