Which Way Wednesday – Super Mario To The Rescue?

Up and down we go.

Where we stop, no one seems to know.  Mario Draghi is speaking at 9 am this morning and, now that the Fed has put off their rate increase, the ball is in his court to do SOMETHING to stop the collapse of the European markets. Not only have the indexes fallen 5% this week (and today bouncing the obligatory weak 1% ahead of Draghi’s speech – as we predicted yesterday in “Back to Bouncing“), but the Euro has fallen 2.5% – leaving no escape for any asset class in Europe.  

Former Goldman Sachs Managing Director Draghi is already in the process of giving $1,300,000,000,000 to EU Banksters (including his alumni, of course) and, like Janet, they want more, More, MORE!  It’s very possible yesterday’s horrific 3% drop in the EU markets was nothing more than an engineered cry for help by the Banksters, giving Draghi the excuse he needs to enrich his friends further without too much public outcry. 

There’s really nothing left to do but cry for European Citizens, who have seen Draghi devalue their life’s savings by 25% since he took power in November of 2011. And yet they are “puzzled” as to why there’s no inflation when the buying power of every European has been reduced by an average of 6% a year for the last 4 years. Hey, I know, let’s give more money to rich people – that will fix everything!

Somebody actually said to me on Seeking Alpha yesterday: “Trickle down works like this: the rich buy large houses, this puts carpenters to work, then they buy appliances/furniture, which helped to create Home Depot and Lowe’s, they have landscapers, house cleaners, nannies, etc. – all created from their wealth.”  

After I stopped laughing, I did try to point out that a lot more people are employed building 300 $330,000 homes than a single $100M home but our problem isn’t the lone commenter on SA – it’s the fact that ALL of our Governments are following this horribly flawed plan to “fix” the Global economy when all they are actually doing is upwardly distributing wealth and income UP to the rich and AWAY from the less rich (the bottom 6.4Bn).