When Mario Draghi set off on his latest quest to slay Europe's deflation monster, after an endless array of failed alphabet soup programs to inject money into stock markets mysteriously failed to fix Europe's insolvent economy riddled by record unemployment and trillions in non-performing loans, he clearly was guided by this latest Eurobarometer survey of Public Opinion in the European Union, in which virtually everyone across the board admitted that the most important issue facing the common folk in Europe is plunging prices and crushing deflation.
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Oh wait... it says rising prices/inflation.
Well, that's embarrassing. Please ignore everything we just said, because paradoxically to "fix" Europe, Mario Draghi is desperately trying to make Europe's biggest problem even worse. Or not: surely this is just a case when the 6 members of the ECB's executive board "know better" than some 330 million Europeans.
At the end of the day, none of that matters: all Draghi is doing is trying to make the super wealthy holders of capital even richer, and push global stock markets to unprecedented records even if it means crushing Europe's middle class into extinction, the same way Bernanke "succeeded' with America's now defunct middle class.
And for those who care, here is who is most impacted by Mario Draghi's "phantom deflation."
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Source: Standard Eurobarometer 81 [8] [8], h/t @RudyHavenstein
