France ‘Proves’ Q€ Is Entirely Useless

France ‘Proves’ Q€ Is Entirely Useless

Tyler Durden’s pictureSubmitted by Tyler Durden on 01/27/2015 12:29 -0500
www.zerohedge.com/news/2015-01-27/france-proves-q%E2%82%AC-entirely-useless

According to the doctrine of central planners, the idea of Q€ is to lower rates to encourage borrowing (and credit creation) to spark growth and kickstart a virtuous recovery. As the following chart shows, that is total and utter crap… French jobseekers just hit a fresh record high and French rates just hit a record low – and that has been the story for 6 years. So – just as The Fed was finally forced to admit, Q€ is nothing more than wealth redistribution from all taxpayers to the ultra-rich asset owners who – it is hoped- will bless the plebeians with some trickle-down-ness… with every asset under the moon already at record highs, once again we ask – just what do you think this will achieve Draghi.

And finally, we have no words for this idiot…

*Bank Of Italy’s PANETTA: ECB QE TO BOOST GROWTH ‘SIGNIFICANTLY’ OVER NEXT 2 YEARS
Yep – they really believe that.

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