"There was talk this week of the need for larger monthly QE from the Fed. The markets also anxiously await the firing up of Dr. Draghi's bazooka. A new Japanese government could see the Bank of Japan further crank up their white-hot electronic printing press. With new leadership in China, perhaps they'll be ready to push further on the accelerator. It all seems rather "late-cycle" to me. And, I'll suggest, a loss of confidence in all these electronic journal entries - the global financial system more generally - is this historic cycle's greatest vulnerability. As we witnessed not many years ago, one day everyone is so enjoying the dance party and the next they're fighting for the exits. It's a spiking the punch rather than removing the punchbowl dilemma."
http://www.safehaven.com/print/27730/when-money-dies New home for Doug Noland