The FT recently run an article that states that “leading central banks now own a fifth of their governments’ total debt”.
The figures are staggering. Without any recession or crisis, major central banks are purchasing more than $200bn a month in government and private debt, led by the ECB and the Bank of Japan.
Continue reading Are Central Banks Nationalising the Economy?
This week we have read that Brussels has certified “the end of the crisis”. In an uncomfortably triumphant statement, the group welcomed the fact that Europe had emerged from the crisis and returned to growth “thanks to the decisive action of the European Union”.
In this great conversation with Keith McCullough we discuss central banks, monetary policy, markets and solutions to the secular stagnation, all around my new book, Escape from the Central Bank Trap.
Daniel Lacalle is Chief Economist at Tressis SV, has a PhD in Economics and is author of “Escape from the Central Bank Trap”, “Life In The Financial Markets” and “The Energy World Is Flat” (Wiley)
Images courtesy Google