"You have such a collapse in the infrastructure of the world economy. You have effectively 300 million people who have lost their jobs. On top of that, you have these negative interest rates where nobody is buying European bonds where the European Central bank has been buying them all. They can't raise interest rates because their own portfolios blow up. So, they are grasping at straws, at this point, to try to appear to be doing something. Although the Fed printing a $120 billion a month sounds like a lot of money, it's still not going to produce inflation. We have such a contraction in the global economy, the losses are amazing."
Martin Armstrong is a world renown economist and the creator of the Economic Confidence Model. He is the founder of Armstrong Economics - a public service and blog for the average person to comprehend the global economy and for professionals to access the most sophisticated international analysis possible.