We’re In Uncharted Economic Territory

We’re in uncharted territory …

For example, this is the first time in history that most central banks worldwide have printed money during the same time period.

And one of America’s leading economists (Nobel-prize winner Robert Shiller) just said that – unlike 1929 –  this time, stocks, bonds and housing are ALL overvalued:

This time around, bonds and, increasingly, real estate also look overvalued. This is different from other over-valuation periods such as 1929, when the stock market was very overvalued, but the bond and housing markets for the most part weren’t. It’s an interesting phenomenon.

There’s a connection between the two unprecedented events …

Money printing sucks money out of the real economy, and throws it at the wealthy … who use it to speculate on stocks, bonds and housing.

Indeed, the central banks have consciously been focusing all of their efforts on blowing asset bubbles

But the bigger they come, the harder they fall.

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  • LeseMajeste

    The TBTF banks and their fiat money schemes will be saved, regardless of the costs to humans.

  • RobertRoddis

    Perhaps we could get a admission from Eric Zuesse that the present regime is not “libertarian”?

  • cettel

    Yet again, but this time shorter than ever, George Washington brings together statistical facts in a way that makes a powerful case about a mega-important matter. As usual, it’s a case that even when a scholar (such as Shiller) has noted in the statistics (as a mere “interesting phenomenon), has nonetheless actually not been presented before (as “But the bigger they come, the harder they fall,” meaning that when the next crash comes, it will be the biggest and most violent one in all of history). An “interesting phenomenon,” indeed! And only George has told us why it is “interesting.” Which is typical of him, which is why he is the best news-commentator that exists. Thanks, George, for passing along to us your extraordinary insights on the news!

  • jadan

    Uncharted territory means “no gold standard anywhere!” The cause for worry is not “fiat currency” per se, but the fact that the world’s central banks are owned by the elite minoritty which is incapable of managing a nation’s financial system in an equitable way.