by Mish Shedlock, Mish Talk:
Time and time again, the Fed sows seeds of the next financial crisis in actions it takes to mitigate the previous financial crisis that it caused.
Have we reached that point yet?
The Guardian reports Central Banks Raise Alarm Over New Crash After Steep Rise in Lending.
Soaring stock markets, which have become detached from underlying values, were another sign that unjustified exuberance had replaced last year’s overly pessimistic reaction to political events such as the US election and the UK’s Brexit vote, BIS cautioned in its annual report published on Sunday.