Krugman on Recent ECB Rate Cut

Paul Krugman recently blogged about the recent ECB (inadequate) rate cut (link below).  Basically, keeping Europe on a course to overall recession (or stagnation) keeps downside risk for equities high and bonds postive (BND and NLY IMHO).  The day ECB says they are the lender of last resort (if ever), markets rock.

Krugman blog:  http://krugman.blogs.nytimes.com/2012/07/05/ecb-death-wish/

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