I urge you to read this once slowly, then a second time to digest fully. It is ALL about credit, remember this while reading the article…it is so spot on it’s scary!
$180 Billion Asset Manager: “There Is No Way Out, Fed Policies Can No Longer Be Exited Without Provoking The Next Crisis”
January 23, 2020
When just over three years ago, TCW’s Chief Investment Officer in Fixed Income, Tad Rivelle, who oversees roughly $180BN in assets, or more than Jeff Gundlach, stated that we are now living through the third consecutive asset bubble in a row, “the central bankers’ bubble” which followed the dot com and housing bubbles…
… he naturally caused a stir as back then he was still one of the first established professionals to confirm and admit that this particular “tinfoil conspiracy theory” website had been right all along: the market’s performance was entirely due to the Fed, and that the longer the Fed’s “emergency” measures continued, the more locked in the central bank would be as the reverse process, namely price discovery without Fed intervention, would result in a catastrophic crisis that could even lead to global war.
