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MarkGB 

"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

We haven't abolished cycles...or the hubris of central bankers

In response to an FT article by Elaine Moore, Robin Wigglesworth and Leo Lewis on 5th February 2016, entitled 'Government Bond yields send recession signal'

http://www.ft.com/cms/s/0/821850f0-cb6c-11e5-a8ef-ea66e967dd44.html#ixzz3zQVPdEIj

'The lifespan of the rally in government bonds will depend on how long investors keep faith in central banks, says Tad Rivelle, chief investment officer for fixed income at TCW, a Los-Angeles based asset manager. Every economic cycle has a grand narrative that eventually unravels, he says. In the late 1990s it was the information revolution, in the 2000s it was housing prices.

“This cycle the narrative has been that central banks have got the ball, know what they’re doing and can keep the game going as long as they want,” he says. “But humans have not found a way to abolish cycles.”'

Bravo Tad Rivelle. Not only have humans not found a way to abolish cycles, the fools running central banks are oblivious to the fact that their idiotic policies are creating the effects they are attempting to abolish. Markets clear - that's what they do. The bigger the bubble, the stronger the correction will be. This one will be enormous, particularly as they are determined to create one last hurrah.

Reps and Dems slug it out

War on cash Vol 5 - Gillian Tett