When all this money scrambles for the exits, it’s not going to be pretty.
Fed Has “No Credibility” About “Staying on Top of Ticking Monetary Bomb.”
We’ve been waiting for a crash of stock prices. And waiting. And waiting. It still hasn’t come. The S&P 500 hit another all-time high. But the real action is in the bond market.
A disturbing scenario for folks fretting about “financial instability,” as it’s called.
Nobody even knows what it’s like anymore.
Stocks, bonds, art, housing, VC portfolios of billion-dollar startups… everything’s on the line.
Everything moved. It’s a totally connected world. In six charts.
Mohamed El-Erian has second thoughts.
My guess is investors will soon regret that decision.
Never before has an agency of a state anywhere in the world pleasured speculators with such stupendous windfalls.