- One cannot overstate the critical role played by central banking, especially now that their policies so dictate market excess.
- It was recognized generations ago that the risk inherent in discretionary central banking was that one mistake would invariably lead to a series of Bigger Mistakes.
- After doubling its balance sheet in less than two years, the Fed is poised to add another Trillion over the coming year. Why? Are the risks not obvious?
- They won’t admit as much, but Beijing is determined to finally bring its unwieldy Bubbles under control.
- It’s fascinating to watch Beijing and the Fed attempt to manage their respective historic Bubbles.
For further details see:
Weekly Commentary: Bigger Mistakes