New Orleans was full of liquidity after Katrina, says Jeff Gundlach, beginning a presentation...

|By:, SA News Editor

New Orleans was full of liquidity after Katrina, says Jeff Gundlach, beginning a presentation titled, "The Big Easy." The major global central banks are all engaged in circular financing schemes, funding gaping government deficits with money minted at the touch of a button. As a group, the central banks are expanding balance sheets by about 3.5%/year. The Fed's QE isn't going anywhere for years, because the Fed can't exit.