Wednesday, April 11, 2012
CNBC's Brian Sullivan: "Does the ECB have enough money?"
Just listening to CNBC anchor Brian Sullivan questioning whether or not the ECB "has enough money" to help Spain. Still a shocking degree of ignorance from the media when it comes to these very simple concepts. The ECB, as the currency issuer of the Eurozone, can never run out of euros. The other day I heard Bob Froehlich, Chief Investment Strategist at The Hartford, say that the Fed "doesn't have any money to conduct QE3." It's really bad journalism that this continues to go on. It just perpetuates all the ignorance and fallacies.