Draghi’s Horrible Threat: “Are We Finished? The Answer is No” !

Taken at face value yesterday's action by the ECB amounted to a monetary farce. How could any adult believe that a benchmark rate cut of 10 bp from an already microscopic level of 25 bps would move the needle in an economic zone that is already groaning under of the weight of $60 trillion in public and private credit market debt?
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