Episode 127: In this episode we discuss the nature of the business cycle and also comment on how central bank/government intervention has effected the current cycle which isn’t growing but can’t seem to correct…the business cycle that won’t cycle.
This Bull market is over 6 years old and the third longest run in history. The two reigning Bull markets in history occurred during unprecedented growth, which was driven by the end of a global war-
#2 1949-1956 The US was the dominant world economy coming out of WWII and replaced Great Britain’s sterling pound as the world reserve currency.
#1 1987-2000 The end of the “cold war” resulted in unprecedented global trade as well as the unleashing of war technologies (like spy satellites, GPS, & ARPANET) which gave birth to the Internet and modern Telecommunications.
The current Bull market has been spurred by trillions of dollars of central bank intervention and government deficient spending. With all that, US and global GDP growth can’t consistently exceed 3%, yet global stock markets are at record highs.
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