Red Sky at Night, Sailors Delight,
Red Sky in the Morning, Sailors take Warning!
We have a new era dawning in Global Monetary policy. It is a new day with the monetary skies already red.Within 90 days the captains of monetary policy have steered the world into uncharted waters and on a course that history warns us against.
Federal Reserve: QE3 “Unlimited” and QE4 within 90 days, ECB: OMT “Uncapped”, BOJ: QE 10 and the newly elected Prime Minister Abe’s mandate for “Inflation at any cost” BOE: UK’s newly appointed BOE Governor, Mark Carney’s Monetary Evan Rule targeting.
These untested and newly commissioned captains all have PhD’s from the finest Economic schools in the world, but they clearly have not studied nor grasped the key lessons of history.
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