Earlier this week we reviewed how Europe's bank deposits are slipping away under the ECB's cover of darkness. Now here's the other side of the coin, showing how the ECB's stupid pet tricks are hiding the truth about the growth of their assets. Lately ECB talking heads, essentially Mario Draghi and his media minions, have been crowing about loan growth and European banks. But strip away the central bank's smoke and mirrors, and we see that that's all it is--tricks and empty chatter.
Only ECB Tricks Stand Between European Bank Balance Sheets and Total Collapse
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.