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$15 Trillion Of Financial Lunacy—-The Subzero Bond Mania

Summary:
As the chart indicates, a trillion isn’t what it used to be, since lately another trillion in negative-yielding debt seems to be added to the pile every other week. Falling inflation expectations, the widely expected resumption of “QE” by major central banks (chiefly the ECB), speculative buying and regulations enforcing financial repression have all combined to drive “investors” (we use the term loosely in this case) over the cliff into the realm of utter madness. https://davidstockmanscontracorner.com/?p=331556&preview_id=331556&preview_nonce=3dd1f12f9c&preview=true

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As the chart indicates, a trillion isn’t what it used to be, since lately another trillion in negative-yielding debt seems to be added to the pile every other week. Falling inflation expectations, the widely expected resumption of “QE” by major central banks (chiefly the ECB), speculative buying and regulations enforcing financial repression have all combined to drive “investors” (we use the term loosely in this case) over the cliff into the realm of utter madness.

https://davidstockmanscontracorner.com/?p=331556&preview_id=331556&preview_nonce=3dd1f12f9c&preview=true

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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