Texto do investidor americano Paul Singer, vale à pena ler. Disponibilzado pelo site Zero Hedge. Em poucas palavras, ele não confia nos dados de crescimento, emprego e inflação divulgados pelas principais economias e reclama que os governos de hoje são muito incompetentes e fracos para decidir por um modelo econômico sólido.
Pre-crisis, the Fed funds rate was 1% for 2-1/2 years. There was no asset buying by the central bank (QE), but the persistently low Fed funds rate fueled bubbles in leverage, real estate and structured products. The balance sheets and derivatives books of financial institutions went from crazy to colossally insane.Following the crisis, the Fed funds rate has been effectively zero for six years, and QE has put several trillion dollars of government and mortgage debt on the books of the world’s major central banks. Indeed, a substantial portion of government spending in the past six years has been “financed” by QE. If the gibberish that passes for explanations of why this is not just money printing makes sense to you, then please give us a call so we can be educated. The explanation makes no sense to us.