Is The 511th Rate Cut Since June 2007 The Charm? Central Banks Struggling to Stimulate Economic Growth
On Fox Business’ Varney and Company today, Stuart Varney asked me about mortgage foreclosures. Are they ending? I said sure, “As long as The Fed doesn’t take away the punch bowl.”
Will The Fed take away the punch bowl? Not likely.
Sputh Korea just reduced their interest rate making it the 511th rate cut by a Central Bank since June 2007.
That’s a whole lot of rate cuts! Sovereign rates are dropping towards the zero barrier.
But the GDP growth rates in Europe are stagnant at best.
At least China and Australia are experiencing above 3% real GDP growth.
In honor of Australia, I am eating at Outback Steakhouse tonight and having a Shrimp on the Barbie. And a Foster’s.