the people making decisions in ECB should better be flipping burgers. They never act, they only re-act. They will cut rates by another 50 points in March but why the hell didn't they cut now ? They said they had to collect more information about the status of the economy. What kind of information they need to understand that economy is in its worst recession since WW2 ? The monetary policy should be far more agressive and they should increase their balance sheet and pump money into the system like FED does.
Since WW2 ? No, worse ! Read - in German language an assessment of the situation from Vice President of Swiss National Bank : http://www.snb.ch/de/mmr/speeches/id/ref_20090205_pmh/source/ref_20090205_pmh.de.pdf Have fun !
FDAX rose 15,09 % since 23.01.2009. ES "only" 8,9 %. Finally Germany has accomplished "leadership" in economic scales...
⢠DJ Stoxx 600 was up 1.9% this week. ⢠Consensus: NTM P/E is currently 9.1x; 2008E EPS growth -19.4%, 2009E -1.4%. ⢠Revisions: Estimates for 2009 have come down 10.6% over the last month.
I have to keep in mind Mr. Steinbruecks legendary remarks in the current crisis : German Finance Minister Peer Steinbrueck said in December that Brownâs bank rescue plan marked a switch from âdecades of supply side politicsâ to âcrass Keynesianismâ and was âbreathtaking.â Steinbrueck Says All Sarkozy Wants Is German Money. Steinbrueck Opposes Aid for German Car Industry, Zeit Reports Oct. 15 Steinbrueck Sees No German Nationalization, Handelsblatt Says Oct. 9
Europe's two most dangerous men: Dr. Axel Weber - German Bundesbank (left) Peer Steinbrück - Secretary of Treasury and Finance, Germany