Thus the Financial Times today. “Ultra-loose monetary policy also underpins bullish sentiment,” elaborates the newspaper. Also? As for the economic optimism, I am not sure. Actually, I am confused about its origin. Concerning monetary policy on both sides of the Atlantic, “ultra-loose” is surely the word. It underpins the bullish sentiment without any doubt. Negative interest rates would make anyone bullish. The only question is how long such a monetary policy can endure without precipitating all sorts of bubbles and financial crises following their precipitous bursts. That is what Mario Draghi and Janet Yellen must be wondering about, as well. Clever as both of them are, they must be as confused as I am. Printing money and tossing it every which way is a recipe for disaster. Good luck to us all.