top of page

THE CENTRAL BANK PIVOT




Central Banks are slowly waking up to the fact that they cannot fix structural economic issues. In fact, evidence from the great monetary experiment of the last decade, indicates that they probably enhance them. The real economic problem is growing income inequality. Real economic growth is dependent on middle class consumption, and absent real wage growth, this consumption becomes ever more dependent on debt financing.

Related Posts

See All

BOND MARKET HISTORYONICS

Merriam-Webster defines the word “histrionic” as overly dramatic or emotional. This is an apt description for both the Federal Reserve...

GONE FISHING

As we assess the fixed income landscape going into 2022, it looks quite different than that of the last two years. The title of this...

When the Rate Spike is Real

TREASURIES LOG THE WORST QUARTER SINCE 1980 The first quarter was largely a continuation of the recovery from the March 2020 lows for...

Comentarios


bottom of page