Tendremos segunda gran depresión

Fuente: Advisor Perspectives, Inc.

Stephen King: The Second Great Depression Only Postponed, Not Avoided Altogether

Knowing that central banks are potentially hooked on QE for the long term is, at best, likely to lead to the mis-pricing of financial assets. That, in turn, might lead to a deterioration in the quality of investment and, hence, lower productivity growth over the medium term. At worst, it may lead to a repeat of the asset price bubbles that have proved to be so disruptive to economic activity.

In the absence of conventional policy ammunition, an addiction to QE could ultimately mean that the second great depression was only postponed, not avoided altogether.

Source: ValueWalk's Mark Melin

Fuente:  HSBC's Chief Economist Stephen King           Zerohedge.com