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Mario Draghi's "OMT Is Real, I Promise" ECB Press Conference - Live Feed

Tyler Durden's picture




 

Update: And here it is - Draghi just said Russian sanctions could add to the "downside risk." Translation: all Putin's fault

With inflation tumbling, credit creation imploding, core European nations' economies floundering and the periphery re-collapsing, ECB's Draghi decided rates were negative enough and expressed no change in the statement which leaves just the press conference to jawbone the EUR lower, Bund yields even more negative, and explain why Portugal was a one-off... or admit OMT was make-believe.

  • DRAGHI SEES DOWNSIDE RISKS TO ECONOMIC OUTLOOK
  • DRAGHI SAYS RISKS INCLUDE GEOPOLITICAL, EMERGING-MARKET WOES
  • DRAGHI SAYS HEIGHTENED GEOPOLITICAL RISKS COULD HURT GROWTH

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Thu, 08/07/2014 - 08:39 | 5058117 LawsofPhysics
LawsofPhysics's picture

"inflation tumbling" - LMFAO! Yes, it's "tumbling" with respect to useless crap from china or anything that is NOT required for survival...

Thu, 08/07/2014 - 08:41 | 5058128 imaginalis
imaginalis's picture

It is not decreasing as much as product sizes.

Thu, 08/07/2014 - 08:55 | 5058188 ebworthen
ebworthen's picture

You're making me hungry for 3/4's of a "1/2 Gallon" of "Rocky Road" ice cream.

The new "Less Cholesterol!" - "Metric Dozen" of eggs coming soon, and the 96 ounce "Easier to carry!" - "Gallon'" of milk.

Thu, 08/07/2014 - 09:07 | 5058250 Haus-Targaryen
Haus-Targaryen's picture

"success in budetary area"

He is either nuts, or one of the most dangerous people on the planet. 

Thu, 08/07/2014 - 09:45 | 5058474 NotApplicable
NotApplicable's picture

Why not both?

Thu, 08/07/2014 - 10:06 | 5058572 nope-1004
nope-1004's picture

It's a pretend economy run by pretend press conferences, with make believe policies.  Draghi is delusional.  Time will label him as just plain stupid.

 

Thu, 08/07/2014 - 09:44 | 5058475 LawsofPhysics
LawsofPhysics's picture

"OMT is real"...  yes it is, what I found more interesting is that Draghi admitted that not only is it "real", it is in fact more QE...

Thu, 08/07/2014 - 08:39 | 5058119 MFL5591
MFL5591's picture

Get rid of this Goldman parasite!

Thu, 08/07/2014 - 08:40 | 5058124 Dr. Engali
Dr. Engali's picture

Let's see if I can kick this can one more time before the market finally calls bullshit.

Thu, 08/07/2014 - 08:47 | 5058151 adonisdemilo
adonisdemilo's picture

The real risks are not Geopolitical they're just plain Political, all the problems stem from dumbfuck politicians, most of whom wouldn't last two minutes in a proper job. 

Thu, 08/07/2014 - 08:49 | 5058159 fzrkid
fzrkid's picture

"With inflation tumbling"

 

I suspect this is written Post 1975 definition of the word inflation.

 

It seems if we were to use pre 70's definition of inflation where it is described as the creation of money then we would be in DEEP SHEEEEEET right now

Thu, 08/07/2014 - 08:50 | 5058162 buzzsaw99
buzzsaw99's picture

all the ecb acronyms are eurotarded. sterilization is a bitch, austerity is a bitch. the ecb is full of a bunch of lying cunts. draghi is a douche.

Thu, 08/07/2014 - 08:52 | 5058163 NoWayJose
NoWayJose's picture

When will central bankers realize that giving cheap money to (unregulated) big banks doesn't help the overall economy?

Thu, 08/07/2014 - 09:46 | 5058483 NotApplicable
NotApplicable's picture

Why would anyone ever think they don't realize it already?

Please stop playing along with the script.

Thu, 08/07/2014 - 10:23 | 5058569 jimcg
jimcg's picture

"When will central bankers realize that giving cheap money to (unregulated) big banks doesn't help the overall economy?"

Same as asking "When will train robbers realize that robbing trains doesn't help anyone but train robbers?"...I think that they already know it, and plan to do more of it.

J

 

 

Thu, 08/07/2014 - 08:51 | 5058165 Squid Viscous
Squid Viscous's picture

so this means I should buy more Netflix and Tesla?

Thu, 08/07/2014 - 08:51 | 5058168 skbull44
skbull44's picture

"...HEIGHTENED GEOPOLITICAL RISKS COULD HURT GROWTH..."

Ya think? Are these bozos setting up the coming crash to be laid at the feet of Putin/Russia/China? How convenient.

http://olduvai.ca

Thu, 08/07/2014 - 09:01 | 5058201 ebworthen
ebworthen's picture

Draghi:  "The assessment of the present situation is volatile..."

WTF?  Wait...he's going to blame Russia, or call for more austerity, or both.

He seems to be saying a whole lot of nothing so far.

Bernanke School of Bullshit alumni.

Thu, 08/07/2014 - 09:03 | 5058237 Downtoolong
Downtoolong's picture

The only reason our farce looks like a farce, smells like a farce, feels like a farce, sounds like a farce, and tastes like a farce is that some people who haven't already had all their senses numbed by this farce won't play along and pretend it's not a farce.

Thu, 08/07/2014 - 09:15 | 5058303 ebworthen
ebworthen's picture

Funny, he keeps using the term "Markets".

What markets?

Thu, 08/07/2014 - 11:15 | 5058950 Bankster Kibble
Bankster Kibble's picture

It's code for "all you suckers out there."

Thu, 08/07/2014 - 09:17 | 5058319 venturen
venturen's picture

till bankers start going to jail nothing will change!

Thu, 08/07/2014 - 09:40 | 5058449 Colonel Klink
Colonel Klink's picture

till banker's heads start rolling nothing will change!

FIFY

Thu, 08/07/2014 - 09:31 | 5058401 GFORCE
GFORCE's picture

I'm sure BES was Russia's fault too. 

Thu, 08/07/2014 - 09:41 | 5058447 Eyeroller
Eyeroller's picture

Teflon Barry:  It's all the Republican's fault.

Draghi:  It's all Russia's fault.

What will Yellen's excuse be?

Thu, 08/07/2014 - 09:42 | 5058460 Colonel Klink
Colonel Klink's picture

It's all the deadbeats who don't pay their fiat loans back fault.

Thu, 08/07/2014 - 09:43 | 5058464 breakyoself
breakyoself's picture

The great jawboner.

Thu, 08/07/2014 - 09:44 | 5058473 TabakLover
TabakLover's picture

Duck Fraghi.

Thu, 08/07/2014 - 09:47 | 5058487 TabakLover
TabakLover's picture

Early market reaction looksl like they ain't buy'n what this prick is selling.

Thu, 08/07/2014 - 10:11 | 5058600 Luckhasit
Luckhasit's picture

Super Mario covering all bases.  It's so coordinated it seems like a conspiracy!

Hookers and blow to boost GP a few tenths of a percentage point and Russian sanctions to cushion the gigantic slide.

Thu, 08/07/2014 - 11:14 | 5058948 q99x2
q99x2's picture

Why isn't he in prison.

Thu, 08/07/2014 - 21:31 | 5062571 datapanik
datapanik's picture

Perfect timing - engineered economic collapse to be blamed on Russia. As for the missing plane - what missing plane?

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