agip wrote:
Ghost of Igloi wrote:
Decades of deranged Central Bank monetary policy is the real threat to the global economy. All this other stuff is just a side show to an extremely overvalued stock and bond market. Even Pelosi and Schumer can’t save you.
I'll never understand the obsession with central bank actions. Igy, man, there is more in the world than central banks. Whether the ultra short term rate is 1% or 2% just isn't going to influence that many businesses. Central Banks aren't nothing, but they are like 5 out of the 100 parts.
This is why Igy has been wrong for so long. He is pretty much a one trick pony and has been singing the same tune here for years. He’s not quite “the boy who cried wolf” because we all know the market will go down, but I think many here tuned him out a while ago.
Yes, there is more to this than just central bank policy or even valuations. If it was just that, the crash would have happened months, maybe even years, ago. It’s more complicated than that.