Are we due a recession?
The developed world averted a recession in 2008 by cutting rates to 0%, then embarking on QE. We all hoped we would get healing, then growth, then inflation, then rising rates. But, we have experienced the distortions of QE without generating enough growth or inflation. Now, central banks have ended up with the safe assets driving pensions and savers into everything else. We haven’t achieved inflation, so we haven’t worked through our debt and the solution may have to come from default. Read more