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We Live In An Era Of Dangerous Imbalances

And history shows they correct painfully
Friday, February 13, 2015, 9:19 PM

The intervention by the world's central banks has resulted in today's bizarro financial markets, where "bad news is good" because it may lead to more (sorry, moar) thin-air stimulus to goose asset prices even higher.

The result is a world addicted to debt and the phony stimulus now essential to sustaining it. In the process, a tremendous wealth gap has been created, one still expanding at an exponential rate. » Read more