Missing the forest for the tree

Over the second half of January, we witnessed a fresh wave of volatility in equity markets, culminating in a pullback that caused widespread concern and endless headlines in the mainstream financial press. There was speculation of a full blown correction, other “experts” disagreed and predicted that central bankers would never allow that to happen, while others …

An unexpected blow to the ECB – Part II

The corona effect Although the German court ruling had nothing to do with this latest wave of easing and money printing triggered by the coronavirus crisis, the timing of it puts the present situation in a different perspective. This crisis has served as a “judgment day” of sorts. It revealed the countless failures, the incompetence …