Comeuppance

Credit Bubble Bulletin/Doug Noland

“. . . I’ve never wavered from the view that this would end badly. Never have I believed that manipulating and distorting markets would achieve anything but epic Bubbles and inevitable terrible hardship. I’ve not seen evidence to counter the view that the longer the global Bubble inflates the greater the downside risk (moreover, such risk grows exponentially over time). And not for one minute did I believe zero rates and QE would resolve deep financial and economic structural issues. Indeed, I have fully expected reckless monetary mismanagement to ensure a global crisis much beyond 2008. From my analytical perspective, the global Bubble has followed the worst-case scenario.”

USAGOLD note: In other words, we have yet to see the worst-case results from the worst-case scenario. Another highly recommended piece of analysis from Doug Noland.


Repost from 8-19-2019

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