“Mainstream Keynesian economists argue that the failure of the European austerity measures to pull Europe out of the doldrums proves that more stimulus is needed, and that austerity is poison at this stage.
Indeed, most mainstream economists pretend that debt doesn’t exist … or believe that debt for its own sake is good and necessary. But Martin Weiss noted last month:
“Four of the world’s largest central banks have gone absolutely berserk, running the money printing presses like never before in history:”
Check out the graphs above. We’re in uncharted territory. This is going to end badly.