Article 8: The Silver Age of the Central Banker

The author of this article thinks that people in the market think that central bankers are responsible for the outcome of the market. He says we moved from a Golden Age of the Central Banker to a Silver Age where monetary policy does not affect markets in the same ways as before. It mentions how now, each country is responsible for deciding on the monetary policies their country's, making it seem like a competition among Central Banks. The author thinks that this is occurring due to massive global debt. He claims that it is all due to global trade volumes that peaked in Q3 or Q4, and has not been discussed nor acknowledged by WSJ or FT articles and CNBC. The article discusses how it is incredibly rare for their to be a decline in export volumes, particularly a decline that is shared by every major economy in the world. He claims that the United States is already in a recession, one almost as bad as the Great Recession. He believes that the global trade values of Asia, the U.S., and Europe are all contracting at the same time, leading to global growth contracting on a structural basis.