Tuesday, February 21, 2012

Stock Market Chases Nominal Gains

zerohedge: Here Is Why The Dow Just Passed 13,000:
Wondering why the DJIA just passed 13K again? Wonder no more: as the chart below shows it is entirely due to the nearly $7 trillion pumped by global central banks into the world stock markets over the past 4 years. As Sean Corrigan from Diapason notes, the aggregate global central bank balance sheet has doubled in four years, and doubled in the 5 years before that. We would add that with the entire centrally planned ponzi scheme hell bent on preserving the illusion of nominal gains...
If our central planners/bankers understood Say's Law, I don't think they would be doing this.

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