can stimulus save the market

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    We've seen this time and again in the Age of Quantitative Easing: Stocks rally whenever central banks talk stimulus.

    On the face of it, it's absurd that governments would direct the supposedly independent central banks, with the aim of boosting the stock market. That sounds like a conspiracy theory.

    Unfortunately, that conspiracy happens to be true. They haven't tried very hard to hide it.

    Of course, that's not how it's "supposed" to be, but we all know it happens; we all know who funds central banks' money-printing sprees. And we all know that the trillions of dollars they create act like a tidal wave of cash that lifts share prices.

    Take the gains that brings, by all means, but please don't have any illusions that these gains are even remotely healthy.

    Rather, it's a sign of profound addiction. But that's not even the most worrisome thing in play here...

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