“The problem with QE is that it works in practice, but it doesn’t work in theory,” said former Fed chairman Ben Bernanke.

Monetarists and "creditists" disagree profoundly over the mechanism. 

 Which of the two is right will determine whether the world muddles through or crashes into recession in 2019.

 Ambrose Evans-Pritchard Telegraph 13 June 2018

The global bond rout has begun, leaving equities on borrowed time

Ambrose Evans-Pritchard, 10 JANUARY 2018

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