One Bank Channels Mike Tyson, Says ‘Everyone’s Got A Strategy, Until They Get Punched In The Face By QT’
Back on December 31, BofAML sent out an SOS to global central banks in the form of an urgent-sounding note called "Planet Earth to Policymakers: Please Reflate" (at the time, it was the latest edition of the bank's "The Inquirer" series).
In it, they cited The Duke University CFO Survey. "In the latest quarterly CFO survey (December 12, 2018), confidence in the world economy has collapsed to levels below early 2016, and about the same depressed levels of late 2011/early 2012â€, the bank wr
Or, they actually do have some idea of what they’re doing, and they’ve just decided that squeezing out ever-smaller amounts of economic growth by incenting ever-larger amounts of debt growth is no longer desirable. Once upon a time, deleveraging was allowed.
Not that I think there will be any stomach to allow it once the world is clearly in a recession – which it will be, at least someday.