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Thursday, June 20, 2013

UK Telegraph: 'We No Longer Have Free Markets'

If Bernanke really shakes the tree, half the world may fall out ... We no longer have a free market. The world's financial asset prices have become a plaything of central banks and the sovereign wealth funds of a few emerging powers. Julian Callow from Barclays says they are buying $1.8 trillion worth of AAA or safe-haven bonds each year from an available pool of $2 trillion. Nothing like this has been seen before in modern times, if ever. – UK Telegraph

Dominant Social Theme: Oh, this is overwrought. Even conspiratorial.

Free-Market Analysis: We can hardly keep track of how many times the alternative 'Net media, including ourselves, have been proven correct in the past few months.

The war in Afghanistan is an admitted failure; the world is swimming in shale oil; central banking's credibility shattered ... and now one of the most mainstream and powerful newspapers in Britain has published an article admitting that the West's economy is far from free.

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