Real delusional talk coming out from the mouth of Draghi this afternoon, while visiting NYC. Obviously, he needed to say something to soothe markets, after yesterday’s disappointment. So, he got his bestest yarn together and knitted up a nice comfy blanket for Wall Street to cover itself with.
“There cannot be any limit to how far we are willing to deploy our instruments, within our mandate,” Draghi said at an event in New York on Friday, a day after announcing a weaker-than-expected stimulus package that roiled global markets. “There is no doubt that if we had to intensify the use of our instruments to ensure that we achieve our price stability mandate, we would.”
Following the old adage that if you tell as big enough lie often enough, people will begin to believe it, Draghi declared deflation to be dead in the EU.
“This will strengthen our forward guidance on interest rates and ensure that liquidity will remain very supportive in the long term,” Draghi said. “Thanks to our monetary-policy actions, the risk of deflation in the euro area is firmly off the table.”
Markets are eating this shit up, as I’m being proven wrong about the underlying weakness in the tape and will be forced to eat part of my dining room table, as penance for my great sins.
My sole consolation is that I am making money today.
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I am making money as well. That should not happen in a tape like this given my proclivities. You will be proven right with a days lag.
As an aside: Fuck The Media!
What I don’t get is that everyone knew he was going to speak at 1220 in NYC and that he was going to address the issue of his failure to make the markets go up yesterday. It was all known and yet risk explodes in anticipation and then again on delivery. So who is controlling the market up here?
clowns
We should give Draghi a “fiancee visa” so he can marry Janet Yellen and fix this market.
I’m dispatching a savory plank of hickory (in the form of a Louisville Slugger) for the lovely Mrs. Fly to serve you this evening.
Commodore – Your promise of consuming lumber could technically be made good by merely pouring yourself a dram of bourbon. That’s how I would do it.
Werner Herzog ones lost a bet and had to eat his shoe. It was boiled for hours and he left out soles, because ‘you don’t eat chicken bones’.
Table…. I don’t know…
DJIA Ytd — +.13% Pass the grey poupon
i have enjoyed today haha
Periscope it. At least you didn’t vow to suck your own cock