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What is the definition of insanity? Doing the same thing over and over and expecting a different result. That according to this definition the president of the European Central Bank (ECB), Mario Draghi, is insane, has been demonstrated yet again. The Italian central banker embarked in March 2015 upon a large-scale asset purchase program, which is better known as “quantitative easing.” Today, almost twenty months have passed and we are in a position to safely evaluate the results of Mario Draghi´s decision. And that is exactly what we will do in this article. The decision to extend the purchase program to the end of December next year is unjustified. The ECB president committed himself to an insane decision and is gradually turning the market into a permanent manic-depressive state. 

To Taper or Not to Taper

Bank Tax

Evaluating ECB´s QE

Undesired Consequences

Bonds

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