dailyreckoning.com.au / By Bill Bonner / January 25th, 2013
Stocks up again. Gold down a bit.
The S&P up 120% since ’09. Real estate moving up too…with the fewest new listings on the market in 11 years.
What’s driving this market? A real recovery? Or central banks‘ fast and easy money?
We’ll take a wild guess.
This week, the Japanese promised to print money to buy their own bonds, joining the cabal of British, Americans and Europeans. They’ll keep at it until prices rise. They’re aiming for inflation of 2%. Will they hit the mark?
All over the world, the central bankers are in charge…they’re moving markets…they’re changing economies…they’re keeping companies alive that would have failed…and bailing out whole industries with nearly zero-cost credit.
The central bankers are credited with saving civilisation…and now they are aiming to make it even better.
But who are they? With the fate of the world economy in their hands… do they know what they’re doing?