Again, not sure what this all means:
Central banks moved Thursday to assuage fears that European banks could be threatened by a shortage of dollars, as they were at the height of the 2008 financial crisis, and opened new lines of credit to institutions in the first such show of force in more than a year.
Stock markets rallied after the European Central Bank said it would allow banks to borrow dollars for up to three months, instead of just for one week as before. The E.C.B. said it was acting jointly with the Federal Reserve of the United States, the Bank of England, the Bank of Japan and the Swiss National Bank.
It was the first coordinated effort to provide dollars since May 2010, and seemed to go beyond just providing reassurance that European banks would not be cut off by American lenders wary of their financial state. The central banks seemed determined to demonstrate that they would not hesitate to deploy their combined weight to keep the European sovereign debt crisis from becoming a bigger threat to the global economy.
“They are getting together and acting together,” Christine Lagarde, the managing director of the International Monetary Fund, said in Washington on Thursday. “To me, that is the most important message.”
I really don’t know what people think is going to happen that the economy is going to right itself. I guess we will just sort of meander through the next decade or so wondering WTF until someone says “Hey- if more people had jobs, they’d be buying shit.”