Alla väntar på QE. Utom Felix Zulauf

Ingen bryr sig om makro eller bolag eller nyheter öht. Alla väntar på QE. Valet i Grekland kan inte bli bra, ändå faller inte marknaden. Empire-index var svagt, men marknaden darrar knappt till för det kommer synkroniserad QE snart... Det är nästan löjligt, men ju mer det snackas om att QE kommer, desto mer behövs det för att undvika en krasch och desto mer anser sig centralbankerna skyldiga att ställa upp.
 
Hursomhelst, vill man spä på sin negativitet kan man läsa Zulaufs kommentarer i Barron's:
 

The global economy is weakening cyclically on top of a highly fragile credit system. It is an explosive cocktail. The tower of debt is compounded by the gigantic over-the-counter derivatives market. In the past 10 years the notional value of derivatives worldwide has grown from $100 trillion to almost $800 trillion. The numbers are mind-boggling. If something goes wrong in the real economy, it could shake the whole credit system dramatically. It is a dangerous situation.

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Politicians therefore will go from one compromise and quick fix to the next, with the crisis deepening until some nations at the periphery won't be able to stand the economic pain anymore.

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China won't be able to save us, as it did in 2009. The Chinese will lower interest rates but their actions will be reactive and lag

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The potential exists for a broad-based nationalization of the credit system, capital controls and dramatic restrictions on financial markets. Some might even be closed for some time.

We are witnessing the biggest financial-market manipulation of all time. The authorities have intervened more and more, and thereby created this monster.