The inevitable end of the dollar’s hegemony has consequences.
Obscured by stock market hoopla, and under the leadership of our fearless Treasury Secretary Jack Lew, the G-20 finance honchos fret about faltering global growth.
This is not to say that it won’t go on longer or won’t get wilder. There are already people with lampshades on their heads. And girls are dancing on the tables.
Even venture capital is worried. ‘The crazier things get, the worse people execute’
LBO volume plunges to the lowest level since crisis year 2009.
Not everyone is irrationally exuberant.
The price of market manipulation keeps dropping.
Over the long run (which is now), the math of that distortion just doesn’t work out.
The report – released on Friday when everyone was on vacation or getting ready to head out of town, and when no one was supposed to pay attention – was a zinger: US net capital outflows soared to $153.5 billion, the largest ever recorded.
Investors won’t even know what exactly is in the pool.