The Wall Street Pleasure And Main Street Pain Of Liquidity Authored by Michael Hartnett of BofAML, "I take it for granted, that those eat now who never ate before; And those who always ate, now eat the more.” Thomas de Quincey, Confessions of an English Opium-Eater The opiate of investors has been central bank liquidity. The degree of stimulus in the past 5-6 years has been unprecedented: $12 trillion of financial asset purchases by the big 5 central ...
June 27, 2013 - Zero Hedge