“Globally, interest rates have been extraordinarily low for an exceptionally long time in nominal and inflation-adjusted terms, against any benchmark. Such low rates are the most remarkable symptom of a broader malaise in the global economy: the economic expansion is unbalanced, debt burdens and financial risks are still too high, productivity growth too low, and the room for manoevre in macroeconomic policy is too limited. The unthinkable risks becoming routine and being perceived as the new normal.”
Bank for International Settlements, June 2015

  As we reach the mid-point of the year, China’s stock market bubble is popping, Puerto Rico has finally admitted that it has no hope of repaying its debts, Greece is again on the verge of default and economic collapse, and the Fed is moving closer to raising interest rates for the first time in nine years. Market liquidity deteriorates by the day and the vast majority of professional investors…….Continue Reading
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