Monday, October 31, 2011

Mario Draghi takes over at ECB tomorrow, FT Cartoon

by Bill McBride on 10/31/2011 08:51:00 AM

A cartoon from the FT Alphaville: E*C*B

[This] appears on page 8 of the FT’s UK print edition. It’s like one of them Renaissance allegory paintings ... Interpretations welcome.

I'm not sure about the meaning, but I liked the play on M*A*S*H.

Maybe this has something to do with Mario Draghi taking over at the ECB tomorrow. Although the ECB will obviously cut rates soon (they were caught going the wrong direction), it seems that Draghi's hands are mostly tied as far as QE.