MoneyWeek: Have Central Bankers lost control?

.....However, a quick glance at the real world indicates continued boundless prosperity. Credit is being created in multiple forms and in unprecedented amounts all around the world. Could it be, the article asks, that the linkages between global economies have altered so fundamentally over the past decade that the shape of an individual country’s bond yield curve is no longer of any real relevance and that the traditional work of the central banker to regulate activity levels is doomed to failure?