Draghi to the Rescue; Markets Set to Climb

Unlike our Fed, who seem to believe raising rates is the elixir to cure all of this deflation (fucking morons), the ECB is looking to print some more of those funny monies, pointing to a probably extension of QE in December.

“Concerns over growth prospects in emerging markets and possible repercussions for the economy from developments in commodity markets signal downside risks to the outlook for growth and inflation,” the European Central Bank president told reporters in Malta on Thursday after a meeting of the Governing Council. “The degree of monetary-policy accommodation will need to be reviewed at our December meeting when new macroeconomic projections will be available.”

Growth concerns should equal an easy monetary policy. What our Fed sees in our economy, post energy sector collapse and continued weakness in retail, is beyond me.

It appaears Euro-land will continue to outperform world markets for the foreseeable future.