The size of the reversal of the supercycle is bigger than you think: And too big to be dealt with by monetary policy in advanced

By Adrian Blundell-Wignall. The real economy will always seem to be disconnected from the financial economy during periods when the need for structural change is so overwhelming that it can hardly be otherwise. We have had the easiest monetary policy of any historical era outside of hyperinflations, and productivity fails to grow, economic activity is weak (particularly in Europe and China) and there is no sign of inflation. More...