Central Banks are Pretending They Don't See Mountains of Debt

by Jeffrey Miller, Partner, Eight Bridges Capital Management June 12th, 2016 Yes, and how many years can a mountain exist Before it’s washed to the sea? Bob Dylan, Blowin’ In the Wind There is a mountain of overvalued debt in the world, and folks are beginning to wonder how long it can exist before it washes out to sea. About $8 trillion in debt around the world is currently trading at a negative interest rate, implying that the holders of this debt expect deflation for the foreseeable future. Smart, rational investors around the world are bemoaning the stupidity of this…