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2016-05-26 — alhambrapartners.com
``All the world's "stimulus" has not been able to budge it since the paper economy of the precrisis evaporated into the credit default swaps of AIG, and the collateral shortage that never has replaced the uniformity of MBS repo... It's as if there was something else all along that took every monetarism that every central bank offered anywhere it was offered and swallowed it whole without leaving the slightest economic trace, only further and further slowing. What can possibly be bigger than all the world's QE's and "stimulus" combined?'' -- They're talking about credit and derivatives deflation...
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