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Financial Arbitrage Capitalism After 10 Years
Doug Noland
12/23/2011
www.prudentbear.com
Bill Gross penned a discerning op-ed for this past Monday’s Financial Times, “The Ugly Side of Ultra-Cheap Money.” From Gross: “Ultra low, zero-bounded central bank policy rates might in fact de-lever instead of relever the financial system, creating contraction instead of expansion in the real economy… Historically, central banks have comfortably relied on a model [...]
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