Doug Wakefield
“What happens to price in a bidless market? It goes off a cliff…. Investors in stocks, bonds, and real estate are being herded off the cliff by the Federal Reserve. The name of the game in the New Normal is to force investors large and small into risk assets. When the risk assets blow up, the herd plunges headlong over the cliff en masse.” [The Fed is Funneling the Investing Herd Off the Cliff, Charles Hugh Smith, June 12, 2015].
We are quickly coming to a point where the global party of “unlimited credit” backstopped by the highest authorities in global finance, central banks, can no longer stop what has already been repeated many times for centuries; the breaking of the stock and bond bubbles. In fact, the current bubble literally is facing the question of who will win in the game of money itself.
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