And talk about a liquidity crisis in Europe! We play a video of Angela Merkel getting doused with pints of bear at a party. Is all that cheap liquidity generated by the ECB for eurozone banks going right back to Germany, as the weaker ones like Italy need to keep going back to the bar just to keep their glasses from draining. So will German banks be the prime candidates to engage in the ECB's upcoming LTRO carry trade? We'll break down carry trade in the back-by-popular demand word of the day!
And what can we learn from wile e coyote? Well, in economic terms he just had a minsky moment...today we'll have a few more moments talking minsky and what he can teach us about this new upside-down world that we are living in with our favorite economist from down under Steve Keen. Source