This article has astonishing insight on current thinking at the higest level of central bank policy discussion. Very clearly there is growing awareness that over the last 5 years their policies have not provided anything close to a durable economic resolution and now there is very limited room for manoeuvre.
https://d21uq3hx4esec9.cloudfront.net/uploads/pdf/140426_TFTF2.pdf
Broken Money, Broken Markets
Today’s new highs are increasingly mechanical, not fundamental — and in a broken market, your 401(k) is the exit liquidity.
