Wednesday, October 23, 2013

Drowing in liquidity

Japan has said it will print unlimited amounts of money. So Ben Bernanke said, "Wait a minute, we can throw in a trillion dollars a year." And the Europeans said they'll do "whatever it takes." There's a gigantic ocean of liquidity, and the people getting that liquidity are having a wonderful time. But it's totally artificial, and it's going to end badly when it ends, I assure you.