We Have Reached The End Of The Line – ‘We Have Never Before In History’ Witnessed What Has Just Happened! What Is Coming Is Epic
By Susan Duclos
All News PipeLine
August 18, 2015
“Never before in the history of the financial world has a central bank gone to such lengths to prop up an economy – and it not work!” – Gregory Mannarino
As ANP reported yesterday, central bankers have lost control and the manipulations they have been using to prop up the economy to give the illusion of “recovery” are failing across the spectrum as we see that 23 nations across the world are already suffering stock market crashes.
THE DOMINOES ARE FALLING
David Stockman at Contra Corner does an excellent job of explaining in detail how and why we have come to “the end of the line” and how the game now changes, significant quotes shown below but the whole article is recommended reading.
China is the end of the line. It was the only economy left that until recently could boast actual growth on a scale that mattered to the global economy. Growth stopped when China, too, introduced stimulus measures. To the tune of some $25 trillion or more, no less.
The perhaps most pivotal importance of China is that it was the world’s latest financial hope. The yuan devaluation shatters that hope once and for all. The global economy looks a lot more bleak for it, even if many people already didn’t believe official growth numbers anymore.
Because we’ve reached the end of the line, the game changes. Of course there will be additional attempts at stimulus, but China’s central bank has de facto conceded that its measures have failed. The yuan devaluations, three days in a row now, mean the central People’s Bank of China has, openly though reluctantly, acknowledged its QE has failed, and quite dramatically at that. They just hope you won’t notice, and try to bring it on with a positive spin.
Central banks are not “beginning” to lose control, they lost control a long time ago. The age of central bank omnipotence has “left and gone away” like Joltin’ Joe. Omnipotence has been replaced by impotence.
This admission will reverberate across the globe. China is simply that big. It may take a while longer for other central bankers to admit to their own failures (though ‘failures’, in view of the wealth transfer, is a relative term here), but it won’t really matter much. One is enough.
Phoenix Capital Research states “The significance of these developments cannot be overstated. Central Banks will be increasingly acting against one another going forward. There will more surprises and more volatility across the board. Eventually it will culminate in a Crash that will make 2008 look like a picnic.”
The Rest…HERE
