Given all the hints, promises, guarantees, and bets that have been made, the ECB better deliver quantitative easing on Thursday or the Swissnado from last week will be like a fart in a hurricane. But while most people believe that this time is different and Draghi will actually deliver more than simple rhetoric, investors are sceptical about its ability to actually reflate the eurozone's economy (and rightly so).
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"We're not learning from the past," warns RBS' Alberto Gallo in the following brief 4 minute explanation of QE's inefficacy...
"when 'wealth' increases [via QE reflation of markets], only the richest few people benefit," which means the weakest nations like Greece or Italy (who need QE the most) will not feel the benefits.
Source: The FT [6]
