Central banks are just groups of people. Groups of people, including CB’s, are not losing control, rather they are fighting among themselves as to who gets to control what.
I’m not pessimistic, I’m just an observer. Things happen because of the number of people, their distribution, natural factors, and competitive factors. It is sometimes called the tide of history, and we live in an age wherein the development of the individual hasn’t kept pace with the development of other human constructs. Individuals are still 19th-century people, at best—made for another world, another time. The shxt has already hit the fan. I am living out my life and planning for a changed future.
Not pessimistic, just realistic of the inevitability of history. I don’t even care about the markets anymore in the way that I used to, even as I use them sometimes—but they have a different meaning for me now, as an observable proxy for other events.
Also, I have come to believe that you can learn more about a person by seeing how they respond to money, than by any other single situation.