“Coordinated, easy monetary policy among the world’s central banks has been a key driver of asset values. That much is undeniable. I have highlighted multiple markets — from junk bonds to farmland to emerging market bonds — where bubblicious activity is rearing its ugly head again as a result, just as it did in previous periods of overly aggressive policy easing.  We know this doesn’t end well. The only question is timing.”

http://www.moneyandmarkets.com/currency-wars-heating-up-again-what-it-means-for-you-51321

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