Liquidity Rules
'TARP', 'QE1', 'QE2', "Dollar Swap Line", 'LTRO' - These are acronyms and financial jargon for liquidity injections into the financial market place since 2009. Liquidity to the down and wavering financial markets is like VIAGRA to a similar category of down and outs. And I am not trying to make fun of those who (think they) need that pill. It is uncanny though that people use it under similar emotional stress as financial markets do, gasping for more 'injections from Dr. FED'. The first round it worked, the second was a flop, the third one? A 50/50 chance it will work again? And create what exactly? The right environment for lasting economic resurgence? Or just another splash of Asset Inflation? Hot air? Just like Viagra does for manhood, liquidity does for artificialy inflated expectations for stock markets. SINCE WE ARE TALKING 'MEDICINES'... If I may say so, the real medicine would need to ensure that wealth is tra