Posted on December 12, 2017 by Charles Hugh Smith WashingtonsBlog The conventional investment wisdom holds that central banks will never let markets decline. This is an interesting belief, given that two previous asset bubbles based on central bank “easy money” both imploded, impoverishing believers in central bank omnipotence. So perhaps we can say that the conventional investment wisdom holds that any asset bubble that bursts will quickly be reflated into an even more extreme asset bubble. That’s certainly been the history of the past 17 years. But there’s a case to be made that bubbles are like strikes, and you only...Read More
Tag: diminishing return
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