Today's hilarious commentary comes from the ECB's own Jurgen Stark, whose blood pressure has obviously peaked and at this point it is just a matter of the realization that ECB (and other Central bank lies) no longer work filtering through to reality.
- ECB'S STARK SAY NOT CENTRAL BANK'S JOB TO FUND DEFICITS (but, but, MMT says debt, and hence central bank monetization thereof, does not fund deficits. Heck, MMT says monetization does not exist...hmm)
- ECB'S STARK: UNRESPONSIBLE TO CALL ECB A `BAD BANK' (right: the correct word is "overdue")
- ECB'S STARK: ECB HASN'T TAKE ON AS BIG RISKS AS OTHER CEN BANKS (right: the risk the ECB has taken does not even fit on the same axis compared to other banks)
- ECB'S STARK SAYS NOT CENTRAL BANK JOB TO LOWER RATES FOR DEBT
- ECB'S STARK SAYS ECB BOND BUYS DON'T CREATE INFLATION RISKS
- ECB'S STARK: BANKS USING PSI HAVE FULL GUARANTEE OF NO LOSS
And the kicker
- ECB'S STARK: ALL DEVELOPED ECONOMIES HAVE PUB FINANCE PROBLEMS- said otherwise, it's everyone else's fault
If we were betting men and women, we would say this is the ECB capitulating.