Central banks should come clean: money printing is forever

The sharemarket is seeming to suggest that the worst of Global Financial Crisis 2: Sovereign Debt is over, but if Ambrose Evans-Pritchard is right in the UK’s Daily Telegraph, we’re not out of the woods yet. As Evans-Pritchard explains, ‘stock markets are a bad barometer at the onset of every crisis, not least the blistering rally of late 1929, a full year after the world economy had tipped into commodity deflation’. Commodity prices have been falling for a while now, and a pick-up in the US housing market has overshadowed a downturn in other US indicators, with money supply contracting,...

The sharemarket is seeming to suggest that the worst of Global Financial Crisis 2: Sovereign Debt is over, but if Ambrose Evans-Pritchard is right in the UK’s Daily Telegraph, we’re not out of the woods yet.

As Evans-Pritchard explains, ‘stock markets are a bad barometer at the onset of every crisis, not least the blistering rally of late 1929, a full year after the world economy had tipped into commodity deflation’.

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