JPMorgan: QE Might Have Devastating Consequences After All

When historians look back and see the cavalier balance sheets of the 
central banks they would rightly assume there was a world war going on 
as every central bank balance sheet is now approaching or exceeding 
levels not seen since 1945. However, the worrying truth is that there 
are no external enemies to overcome; the central bankers are only 
maintaining the growth trajectory that we demand. 
 
The age of sloganeers 
 
The current social contract is mired in the quicksand of global 
finance. It is being kept alive by the corpulent balance sheets of 
central banks, who do their government’s bidding so that the 
politicians do not have to put unpleasant choices in front of their 
electorates. This cowardly behaviour gives rise to slogans and 
sloganeers, who provide familiar but false checklists of remedies. 
“Take bank control”…”America First”…”One Belt, One Road”…”Ein Volk, 
ein Reich, ein Fuhrer”…”One Man - One Kill”. Central banks are 
currently furnishing the excess credit that, in the past, has been 
followed by an orgy of blood. 
 
https://www.zerohedge.com/news/2018-07-28/jpmorgan-qe-might-have-devastating-consequences-after-all