“Worse than the one following the Global Financial Crisis.”
But the Fed is steadfastly blind to bubbles & their consequences.
Erode that confidence, and you have a crisis on your hands.
The two biggest buyers of Japan Inc. are flying blind and don’t care.
“It will not harm the pension beneficiaries”: official
Building up a big pile of dry powder.
Record moneys suddenly pile into the material that debt crises are made of.
Benefiting hedge funds and banks that had front-run the fund.
No one knows how to back out without blowing up the whole system.
Glorious times for Draghi’s scheme.