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Bill Blain: “This Is What Terrifies Draghi And Other Central Bankers”

Bill Blain: “This Is What Terrifies Draghi And Other Central Bankers”

Austria 2% for 100 year bond will go down as “financial moment”. Wake up and smell the coffee of economic reality

Blain’s Morning Porridge – September 13th 2017

“Hey Satan, paid my dues, playing in a rocking band…”

This morning dawns bright and hopeful. After the Caribbean hurricanes, London survived a storm last night which ruffled the waters of the Thames, and caused some mild distress in terms of leaves blown off trees. Do your worst Mother Nature! England is ready!

Markets are enthused, boosted by talk of a US tax-reform roadshow, stock markets hitting new highs because the Norte Koreans haven’t found a match to light the fuse on their next firework, and Apple looking likely to get away with pushing the price of a new bright shinny thing past $1000.

I read a great line yesterday I suspect someone is going to ultimately regret: “We have solid global growth and some of the easiest financial conditions in history… hooray!”

It’s probably true we have ridiculously easy conditions – but playing it won’t be easy and I doubt there will be much to cheer as the unintended consequences of financial asset inflation play out! More about that below.

Or how about reading Goldman Sachs saying there won’t be a Global Stock Crash because “too many people expect it..” (Oh, yes they said it – months after I did!) It’s such an obvious triple bluff: Goldman might be saying they don’t expect the crash because they want you to think they do, but you will further out-think them and figure because they are Goldman and are so awfully smart they’ve worked out you would work that out… and they actually want to buy the whole market, or maybe it’s a quadruple bluff… I’m sure you get the gist.

…click on the above link to read the rest of the article…

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