Well, as I suspected, it doesn’t look like the Bank of England’s £50bn injection is going to bring down mortgage rates any time soon.

Italian elections have traditionally been confusing, with one weak center-left coalition government replacing another. But the election held on April 13-14 was unusual for Italy, as it produced a clear result.

“And one of the sensitive Mogambo Economic Tremor Detectors (METD) shows that the apparent slowdown in Total Fed Credit for the past few months has now been revealed as a mirage, and Federal Reserve Credit has now ballooned another $6.1 billion…”

Junior Mogambo Ranger (JMR) Azvitt sent a piece by John Browne of Euro Pacific Capital, who writes that professor Robert Shiller “has determined that house prices rose in line with inflation, between 1900 and 1995, at 3.3 percent per annum.

“And as more Insane Economic News Of The Day (IENOTD), the Fed’s personal stash of U.S. government debt is down another gigantic $48 billion last week! $48 billion! In one week! One freaking week!”