Friday, December 26, 2014
Just where has the recent London housing boom really come from?
Deutsche Bank round- up of market prospects for 2015 : Ã¢Â€ÂœIf it was a free market and central banks were not allowed to intervene any more then we would be very bearish. However central banks do exist and at a global level will buy more assets in 2015 than they did in 2014.Ã¢Â€Â and "This massive central bank credit has in turn fueled dramatic asset price inflation, with the combined valuation of world equity markets (before the very recent jitters) reaching almost $75Ã¢Â€Â‰trillion Ã¢Â€Â“ a not-entirely-coincidental threefold increase from the March 2009 low of $25Ã¢Â€Â‰ trillion. Charts plotting the rise in equity markets against the increase in central bank balance sheets show an almost perfect correlation".