Daily Reading on the Financial Markets: 11/15/12
Cullen Roche at PragCap on the waning faith of Fed monetary policy “solutions”. The market has sold off since QE3, and accelerated to the downside yesterday after more QE was suggested.
Wolf Richter at Testosterone Pit notes that the Bundesbank took a shot at the Federal Reserve in its annual Financial Stability Report, noting that monetary solutions for short term stability will likely lead to longer term instability.
From CNBC, someone at the ECB (Luc Coene) finally confesses the obvious: Greece will almost certainly need to write off at least some part of its debt.
Ron Paul exited Congress with a superb speech that Zero Hedge aptly called the Guide to Being a Libertarian: