by Brian Maher
Daily Reckoning
The eyes glaze, the jaw drops, the legs wobble… and the mind reels…
The world’s central banks have printed $834 million each and every hour of each and every day… for the past 18 months… to keep the global economy up and going.
That is correct. $834 million the hour — every hour, 18 months running.
This we have on the high authority of Bank of America, relayed here by Bloomberg:
Imagine spending $834 million an hour for 18 months. That’s how much central banks have spent buying bonds since the pandemic hit, according to Bank of America strategists, who estimate the Fed alone has put in $4 trillion.