
How We Got Here – For Dummies.
The further on we get from the crisis while still operating in a regime characterized by crisis-era policies, the more difficult it becomes for investors to remember a time when markets were not receiving continual support from policymakers.
The presence of a communication loop between markets and central banks allows traders and investors to effectively "vote with their feet" whenever they see or hear something they don't like from the Fed, the ECB, or any other DM monetary authority. The very