Are All Central Bankers Idiots? | Zero Hedge: "Here's what he told us:
It is doomed, of course. But not necessarily soon. As long as the major tendency of the economy is toward deflation, central banks can print money without causing consumer price inflation. They can buy bonds and keep buying them.
When they buy bonds, they tend to lower interest rates. They also finance government deficits. And, from Japan’s example, it looks as though they can do it almost indefinitely.
That’s right: They can keep this gig going… until they can’t. When it ends is anybody’s guess. It is in the future, where no man goeth with GPS or map in hand…"
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