Where and how is all of this going to end? We don’t know, but we doubt the end will be anything but painful for all around.
The problems that were caused by too low interest rates and way to much credit and money creation are supposed to be cured by not merely more of the same, but by veritable wagon-loads of more of the same, for as far as the eye can see. It can and will do lots of things, but what it won’t do is ‘work’.
Money is not capital.
Creating more and more of it cannot help society at large, it can only lead to more malinvestment and capital consumption. For a while, it feels good, we won’t deny that – but the amplitude of the boom-bust cycles keeps growing. At some point something will go very wrong, and when it does it will probably happen in a manner that indicates ‘control has been lost’.