Beyond Speculation: Is A New Order Approaching?

As Jonathan Shapiro wrote in the AFR this week, financial markets are becoming one big gamble, catalysed by leading global retail brokers leading to a rise of prediction markets and the inevitable fusion with financial markets that is turning just about anything and everything into speculation. This of course leads to the volatility we are seeing in markets, as the debt-for-growth regime is falling apart. While the Fed this week was up to its usual tricks, manipulating Treasury bonds and MBS out its rear orifice in service to yet another QE of some kind to come, at best we will […]