Thursday, March 2, 2023

Inflation In Europe Running Hot

"The overall read for EU inflation comes in hotter than expected, with core inflation accelerating to a record 5.6%. Consumer prices rise 8.5% year over year vs an estimate of 8.3%. German 2-year yields hit new post-2008 highs."

--Lisa Abramowicz, Bloomberg

Central Banks Created All This Inflation Nightmare

"The Federal Reserve and other central banks spent over a decade deliberately creating inflation. We're now starting to suffer the consequences, as consumer prices must rise to find a new equilibrium price between the supply of goods for sale and the quantity of money available to buy them."

-- Peter Schiff 

The ECB Made An Error

"In 2018 the official inflation rate in the Eurozone was 1.74%. But the European Central Bank (ECB) thought 1.74% was too far below its mandate of inflation close to, but below 2%. So the European Central Bank (ECB) held the deposit rate at -.4% and continued a massive QE program to lift the rate closer to 2%. Now it's 8.4%!"

-- Peter Schiff

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