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Do central bankers now rule the Earth?

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 BigRed    150

Eight years ago, the U.S. economy started to blaze a trail through uncharted territory. Soon, the rest of the world was following.

Not much different than the Pilgrims leaving Europe for the New World, or the pioneers headed West, with the near-collapse of the financial system, nations set out on a new economic path that at once was necessary as well as fraught with the dangers of the unknown.

We have left the world where financial institutions run the day-to-day activities of free markets. Those days are in the past.

We have arrived where central banks rule the world.  While this isn’t the end of our journey, the repercussions of having free markets artificially sustained by national monetary policy is becoming clearer.

Beyond the point of no return

There are two things moving the markets right now: oil prices and the U.S. Federal Reserve.


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