Mario Draghi and the ECB has always been too slow, too reactive, it's lacked the real ticker and guts to get on the front foot like the US did and tackle what is now a diabolical challenge. Draghi and the ECB has essentially stuck its head in the sand and ass in the air and "hoped". Hoped its baby steps will lead to an improvement, it hasn't.
Virtually every measure the ECB has put in place has not been enough. Draghi only days before the 2012 Olympics in London said in a press conference. "We will do whatever it takes". I would say to him you have not done what it takes Mr Draghi, you have failed and it’s been 2 years since the Olympics and Europe is worse off now than it was 2 years ago. Thanks for your efforts but it's time to go. Resign or be sacked!
Draghi and the current committee have had long enough, they have been the ones at the helm and Europe is arguably in worse shape now than it was 3 years ago. It's time for a new coach. Draghi and his committee have shown they don't have what it takes, their measures have been far too reactive and slow and whilst many criticise the US Fed for its QE programs over the past few years, it’s worked. The US has gone from over 10% unemployment to 6.1%, its growth rate has gone from 0% to an annualised rate of currently around 4% and the economy has improved to the point where financial markets are speculating on an interest rate rise. And all through the same time period the ECB has stuffed around and promised plenty and delivered very little. In fact they have contributed to the disaster Europe currently faces, years of living in a society where standards of living are dropping, kids have little opportunity for work, the chances of a university education are less and poverty is an ever growing reality for many.
Extract: LTG GoldRock Insider Report Monday the 1st of September 2014
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