It All Comes To Nought

We are now headed for a global recession. 

  • Interest rates will be cut to nothing in the developed world. Unconventional measures will be employed: Yield Curve Control, QE, Credit Easing. Eventually, outright purchases of equities.
  • Fiscal stimulus packages will be passed, initially 1-2% of GDP but the second round will be larger.
  • Governments will fall. Italy first, then Germany. Bernie Sanders will be the Democratic nominee and will stand a 50% chance of becoming President.
  • Liquidity will disappear from financial markets. Stock markets will fall . . .

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