If you need any evidence that the world's central banks have destroyed honest price discovery in the financial markets, the last few days have provided it in spades. The nearly $2 trillion sell-off in the global bond markets since last Tuesday was warranted but happened for the wrong reasons, while the 600 point gain in the Dow index gives stupid a whole new definition.
Why The "Trump Reflation Trade" Is For Chumps
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.