When Monetary Policy Isn’t Enough

Published on
September 17th, 2019
Duration
29 minutes

When Monetary Policy Isn’t Enough

The Expert View ·
Featuring Christophe Ollari

Published on: September 17th, 2019 • Duration: 29 minutes

Christophe Ollari, founder of Ollari Consulting, predicts that we have seen the peak of monetary easing for this cycle. In its place, Ollari argues that policy will tilt toward a new sort of “Social QE” - involving central banks and governments in Europe, Japan, and the U.S. acting in concert. Ollari explains the political ramifications of this shift in policy, and speaks to what it means for markets. Filmed on September 13, 2019 in London. Learn more about Macro Insiders here: http://www.realvision.com/macro-insiders

Comments

Transcript

  • SG
    Sven G.
    26 September 2019 @ 17:29
    Christophe manages to make a somewhat dry topic interesting, not sure if he is simply good at communicating or if it's his French accent :D
  • CL
    Chewy L.
    20 September 2019 @ 11:27
    the audio was terrible. had a hard time hearing it.
  • GB
    Gary B.
    18 September 2019 @ 21:07
    The quality of the transcript could be improved. Please! The analysis is always refreshing.
  • KS
    Karen S.
    18 September 2019 @ 16:07
    I love the way he says QE.
  • RM
    Robert M.
    17 September 2019 @ 18:31
    Can't understand him
    • DS
      David S.
      17 September 2019 @ 20:05
      Read transcript. Well worth your time. Brilliant. Best CB analyst. DLS
  • SS
    Steve S.
    17 September 2019 @ 12:27
    Thank you RVTV for the transcript. Couldn't understand a word, very strong French accent. Great interview/thoughts though.
    • PS
      Peter S.
      17 September 2019 @ 13:34
      Closed captioning.
  • Nv
    Nick v.
    17 September 2019 @ 11:35
    Germany already said they will run a balanced budget until 2023. This is fiscal stimulus with German characteristics Currently running a 2% surplus = 2% of GDP stimulus before recession effects
  • GS
    Gero S.
    17 September 2019 @ 11:23
    Agree with the overall message! How is German fiscal spending going to help countries such as Italy (etc...) though? Mastricht criteria are another major flaw in Europe's current setup
  • IS
    Ionel S.
    17 September 2019 @ 11:13
    Germans have a demographic shock to manage ahead and they know it very well. No spending will hapend! Money is there for their last days ..is like as a hedge for longevity risk. Recession will come and pass, euro will be again under break up pression but they wont spend a cent. And if they get pissed off, because of this, they will prefer to leave the euro zone, instead of spending for Grecs, Italians or them selfs. Moreover, with negative rates being implemented for retail sight deposits, the negative sentiment against Euro will even grow up bigger. So sad I have to say this..
  • SS
    Shanthi S.
    17 September 2019 @ 08:42
    Love Christophe Ollari. Thank you.
  • dd
    david d.
    17 September 2019 @ 08:13
    Europe is now replete with real estate bubbles, is that not inflation ?
    • SS
      Shanthi S.
      17 September 2019 @ 08:47
      Of course it is. And anyway, these inflation targets, like NIRP, seem to be yet another veiled means of robbing the citizen of savings. It’s all heading in the direction of complete eradication of economic freedom, and complete dependence on the State.
  • DS
    David S.
    17 September 2019 @ 07:49
    Mr Mr. Ollari is the best. Great summary of past and current CB positions. Future expectations very probable. My further guess is Germany will realize no one can save the Euro regardless of how much money is printed or how much money Germany will waste on saving it. Germany's pull out of the Euro will start a new and possible winning phase in the EEC development in the Tri-Polar world. Northern Europe benefited from the lower Euro exchange rate for years as China did from its export trade. Those days are over for both. In the interim billions of dollars will be made during the interregnum as world economic power structures change. It is above my pay grade to profit from this major power shift. I hope a lot of you will understand how to invest and make a fortune. DLS
    • SK
      Sebastian K.
      17 September 2019 @ 20:14
      How do you think one has to invest?
    • DS
      David S.
      18 September 2019 @ 01:53
      I am just trying to understand the world with RVTV - a great insight. I am old and just protecting my savings conservatively at 73 while having a great time in the Alps with Swiss friends. DLS