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> .. I won't say the whole budget will be wasted away, but I hold no hope of something useful coming out of it. The ECB has been buying trillions of euro's wor
by misja111 6y ago
> .. I won't say the whole budget will be wasted away, but I hold no hope of something useful coming out of it.
The ECB has been buying trillions of euro's worth of dubious government bonds and bank debts for the last couple of years. Also every year the EU pays hundreds of billions worth of subsidies to European farmers so that they are able to sell their goods below global market prices. I would say that this 145 billion is as good an investment if not better than what EU money has been spent on so far.
- vladimirralev 6y agoCentral banks and governments pretty much already committed to drive a planned economy. EU subsidises farmers (among others) to sell goods at cheap prices, which causes consumer prices to drop and in the end the ECB says inflation is too low, so let's print money to buy more gov bonds. Governments then use the money to subsidise something else distorting the markets and it loops back to disinflation and the central bank printing even more money. It's a joke. Might as well just admit, semiconductors or not, the future of the economy is with the politically preselected winners who get the subsidies and the loans. Risk premiums, collateral, macroprudential regulation, insurance and so on is for the peasants.