What just happened, page-84

The theory is that more stimulus is good for equity markets. Thus causing equity markets to rise. The theory is that rising equity markets is bad for the POG. Something like making investment capital move from the gold market to the equity market. It is a complex and complicated theory and this is just one part of a giant moving beast.

However, the markets have gone crazy since all the experiments with QE/ZIRP/NIRP. Most of the stimulus hasn't found it's way into the real economy. It has stayed in the financial system to be played on secondary markets and the derivatives markets. It is called 'financialisation'. That means that the fundamentals are dislocated from the technicals and it boils down to day to day sentiment that can turn on a dime. The consequence is huge volatility across all secondary and derivative markets, whilst primary markets suffer from lack of investment, thus causing global growth to be anaemic.

Cheers