The Haunting Ghost of 2013
Monday, March 1, 2021
Central banks indeed have rescued the capitalist, financial asset owners and investment management institutions, but they have not helped the ordinary businessmen in the real sector that must fight for their daily life in the streets.
SUPPOSEDLY, the condition of the financial market should reflect the real economy. If the economy is growing, the prices of various financial assets will cheerfully go up with it. But now the market is suffering an anomaly. The Covid-19 pandemic has upended that logic. Global financial markets are now anxious when the economy is showing signs of recovering.
The root of this upside-down logic lies in central bank operations. T
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