European Central Bank to Launch New Stimulus Program

Last week, European Central Bank chief Mario Draghi (shown) tried to do an impression of former Federal Reserve Chairman Ben Bernanke. Although “Helicopter Ben” — he of the massive, innovative “stimulus” monetary policies enacted in response to the Great Recession, which pumped trillions of new dollars into the global economy — has been retired from the helm of the Fed for several years, he casts a very long shadow indeed. Draghi’s own newly enacted stimulus, designed to boost Europe out of persistent economic malaise, not only takes a few pages out of the Bernanke playbook, it moves central banking into entirely new, much more overtly socialist territory than even Bernanke could have envisioned.









Read More: http://www.thenewamerican.com/world-news/europe/item/22759-european-central-bank-to-launch-new-stimulus-program