A remarkably fascinating investigative report on the central bankers, "a new ruling class" composed of unelected people with as much power as presidents and prime ministers who make financial decisions that impact the entire world. One of their superpowers? Creating money out of thin air.
Stock markets have risen on this tide of cheap money. So has real estate. So, arguably, has everything else.
But there are two big concerns with what this new central banker elite has done.
One is that no one really understands the consequences of pumping such vast amounts of money into the world economy. It's already distorted the prices of certain assets, and some fear hyperinflation or market crashes are inevitable (the subject of tomorrow's column).
The other is that it's caused a massive shift in wealth, from savers to borrowers, and is taking money out of the pockets of almost everyone approaching or at retirement age.
|2 Million Americans Still Paying for AOL Access|
|"Women will henceforth make all Wall Street trading decisions."|
|Time To Say Goodbye to Paper Money|
|The Money Tree: What Happens When You Attach 100 Banknotes to a Tree|
|"100 of its members occupied the Opera Apple Store in Paris, demanding the company pay its taxes."|
|“A novel experiment by a government to work with journalists and educators to combat the spread of online misinformation.”|
|“The race is on to create lab-grown meat products.”|
|“Google Owns 28% of Your Brain.”|
|CaptchaTweet: Write Tweets in Captcha Form|
|The (Very Scary) People of Public Transit|
|“We’ve received requests to add some artificial noise to the buses so that people can hear them.”|
|How to Avoid Jury Duty|
|“Initial riders may be more comfortable getting into a car with a human in the driver seat.”|
|“When Life Gives You Lemons.”|
|“Both spacecraft are still operational when they reached interstellar space.”|
|Bird Shit Advertising|