Look What They Did!

To crystallize our conversation today, allow me to use a very – and I stress very – clumsy sentence to summarize the current state of affairs: In the last three plus years, central banks have had little choice but to do the unsustainable in order to sustain the unsustainable until others do the sustainable to restore sustainability!

via PIMCO | Viewpoints – Evolution, Impact and Limitations of Unusual Central Bank Policy Activism.