The monetary props of the global asset boom are rapidly crumbling - The Telegraph

New Keynesian central bankers are dangerously close to pushing us into a recession

It is a fiscal agent, like the Banca dItalia in the 1970s. Its de facto mandate is to keep insolvent Club Med states afloat and to mask the full extent of Frances deteriorating public debt profile. T… [+1966 chars]

full article...