Central Bankers' Up Sh*t's Creek Without A Paddle

The world financial system is as dangerously stretched today as it was at the peak of the last bubble but this time the authorities are caught in a "policy trap" with few defences left, a veteran central banker has warned.

Nine years of emergency money has had a string of perverse effects and lured emerging markets into debt dependency, without addressing the structural causes of the global disorder.

https://www.zerohedge.com/news/2018-01-25/it-frankly-scary-bill-white-warns-global-financial-system-faces-perfect-storm

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