from Armstrong Economics:
The Reserve Bank of New Zealand hiked its official cash rate by a quarter point to 3.5%. Outside of Europe that seems to be in an economic death spiral, interest rates are poised to rise.
The ECB is happy with that for flooding Europe with more euros and keeping interest rates at zero of moving negative, they assume the Euro will collapse and they will at last be able to stimulate jobs by selling cheaper goods. That strategy depends on the rest of the world remaining strong. But if we see a turn down 2016-2020, it is hard to imagine Europe surviving the coming political storm.
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