Worth $12tn in 1980, global stocks and bonds are now worth nearly $370tn

But that rise may be less a result of government retreat, in the form of deregulation, than of state support, particularly bailouts and easy money from central banks.

Ruchir Sharma, Morgan Stanley Investment Management’s chief global strategist, is author of ‘The Ten Rules of Successful Nations’ FT 25 April 2021

https://englundmacro.blogspot.com/2021/04/it-is-difficult-to-maintain-fiction.html