Loading ...Market chartists should just throw away all of their historical data before 2009. Central banks are the market now.
All they need is a guy with binoculars, waiting to see if the smoke coming from the little chimney is black or white. Or like Kremlinogologists, just check who got airbrushed out.
We’re in the beginning of the “post-markets” era. When the last vestiges of Capitalism were abandoned in favor of a command-and-control, top-down, centrally-planned economy by the global monetary Politboro.
Next up? Moar QE. They’ll unwind IOER and all that liquidity will suddenly be de-sterilized. Instead of low-velocity money with the 1% asset holders we’ll have money for people who need to spend. They’ll try and inflate the debt pile away with 10% headline inflation. Stocks to 50,000, loaf of bread to $10.
Get with the program, comrade.