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Good evening to all you fine folk!

I was going to comment on Super Mario's ECB speech this evening,
But,
I cannot stand central bankers,
Thinking about them gives me a headache!

So instead I am going to give a quick over view
As to why he is completely wrong about his forward projections
for the Euro area economy, and the world economy in general.

Business optimism is at an all time high at the top of a cyclical trend, the next major move is downwards.

Consumer confidence sits near all time highs, again at the top of a cycle.

The outlook for the economy among the masses is again near an all time high, 

While inflation is stuck in a downtrend, this signals that economic momentum is actually dead in the water!

The EURO area public cannot borrow anymore credit into existence, therefore economic activity cannot expand in any meaningful fashion.

The European economy is a bubble waiting for a pin.

Right now, its held together by back door government financing by the central bank.

This will not go on.

Mario is going to be one surprised kid
when his banking system falls down around his ears again!

 

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UPCOMING RISK EVENTS:


USD: Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate.
EUR: N/A.
GBP: Manufacturing Production m/m
JPY: BOJ Press Conference

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