Solving a Debt Problem with More Debt

WSJ: The European Central Bank made a stunning U-turn today, saying it will intervene in the eurozone’s public and private debt markets, among other things. The move is aimed to “ensure depth and liquidity in those market segments which are dysfunctional,” the ECB said in a statement. But the central bank didn’t give the amount of bonds it aims to purchase. —– Well this it. The US shot its wad last year and now the EU is going all in. Of course none of this will work in the long run. We cannot hide from the problem of to much debt by piling on more debt. A example of how ridiculous this whole exercies is the fact that Spain, which is …