“Now We Are At The Lower Bound”: Draghi Reaches The Dead-End Of Keynesian Central Banking

Europe is not growing much because most of its economies have been crushed under a mountain of debt, taxes, welfarism and statist dirigisme. Yet somehow the foolish pettifogger running the ECB thinks that driving the cost of  money to the “lower bound” (i.e. zero) will help overcome these insuperable—and government made—barriers to prosperity. Yet in today’s financialized economies, zero cost […]