A helm against the threat of the global recession

The harmony returned. The White House and Beijing exchange courtesies. At the request of Deputy Prime Minister Liu He, President Trump postponed the increase in tariffs scheduled for October 1. Thus, the Chinese CP can celebrate 70 years of the Mao Revolution as God commands. It will be a corresponding favor: Chinese companies are already making quotation requests to the US for a wide variety of agricultural products, from soybeans to pork. It is a relief for "farmers," largely Trump's natural voters, punished for his crusade and the president's reprisals. Xi Jinping. Where harmony cracked, and evidence of strong discord arose, what came back is quantitative expansion (QE). We talk about ECB. Mario Draghi has not yet retired and rescued her from her retirement situation, in addition to pruning interest rates by 10 basis points. The monthly purchases of assets are modest (20 billion euros) but the program itself has no expiration date. The QE "to infinity" was approved by broad consensus, Draghi said. What he did not say, and later learned, was the opposition of the governors of the central banks of Germany, Holland, France, Estonia and Austria. There was no express vote to avoid an accurate record of dissent. But the reasons are public. The Dutch Klaas Knot posted them on his website. In a word, the stimulus package is not proportionate to the economic situation. It is clear that Draghi prefers to sin excessively and not have to deal with a recession. And what other concern but Trump and Xi would have to take voltage off their confrontation? Hence the firm rudder.