|
We are seeing the start of a new era. This era will be marked by central banks as equity owners. The era of the central bank portfolio of nothing but gold bullion and government IOU’s is coming to an end.
The good news is that investors have more money than central banks do. The bad news is that, at the margin, central bankers will be able to manipulate the equity markets the way they manipulate government debt markets.
This is very bad news.
__________________
We have been saddled with a government that pays lip service to the nation’s freedom principles while working overtime to shred the Constitution.
|
