The European Central Bank Is Deflating

A lot of people talk on and on about how all the central banks are printing money.

But, to the dismay of radical Keynesians, central banks are not always printing money all the time.

The ECB has spent the last several months deflating.

ecb assets

This will put pressure on Europe. It will be interesting to see how long this lasts, given how bad things seem to be over there.

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