Woody, most investors and economists believe that central bankers have overcome the forces of deflation because stock markets have risen over recent years.
But let’s not forget that global trends in the major asset classes saw real estate top in 2006, stocks in 2007, commodities in 2008 and precious metals in 2011. This is despite historic monetary stimulus, ZIRPs and massive QE by the world's major central banks.
It’s seems markets are merely treading water and the more liquidity provided by central bankers the more likely investors risk drowning.
