...the poor news hasn’t necessarily kept investors down. Similar to how the US stock market re-rated in 2013 despite the tepid recovery, the MSCI Europe has re-rated from 9x to 14.5x in the last two years
...we may just be seeing another example of central bank-powered asset prices.
"How much do central banks need to inject to keep the stock market from crashing?
Major US Financial Institutions Leverage Ratios
"Debt is the lifeblood of our very existence" - "How bankrupt our societies are"
Quarter End Federal Reserve Provided Window Dressing for the Too Big to Fails
"We have not been fixing the banks, we have been feeding them."
"1937 parallels for today's global economy"
Chris Martenson; "It is the Fed’s very own policies that are driving the expansion of the wealth gap."