from Testosterone Pit.com:
If the world has learned anything at all since the financial crisis – other than that crimes at the highest levels of finance aren’t actually crimes – it is that heroic money printing and a relentless zero-interest-rate policy by central banks re-inflate asset prices, no matter what the assets are, until they form new bubbles … and a whole new body of rhetoric about why, this time, it’s different.
So, the two most determined money printers in the world, the Fed and the Bank of Japan, redoubled their efforts in 2013. To their immense credit, in a world where miracles have become awfully rare, their flood of new money sloshing through the markets has performed one miracle after another.
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