Our economies are being serviced with an unrequested euthanasia, courtesy of bank regulators.

Sir, John Authers and Michael Mackenzie contrasts the Yippie Ki-Yay feelings of the bull run market of the late 1990’s, with the subdued feelings of the current one, “Where have the good times gone?” March 2.

And they are right to do so, cause the differences of then and now are the same as those between signing up for a mortgage to buy your family its first house, and the signing of a reverse mortgage to extract the most value of your house to take care of your aging days.

The money pumped into our economies by nervous central bank technocrats is, because of nervous bank regulating technocrats, not allowed to flow to those who build future, like SMEs and entrepreneurs, for the sole amazingly silly reason that these are perceived as more risky from a credit point of view. And so the money pumps up the value of assets that have not shown much more merit than just being there, available. 

One day historians are, amazed, going to look back at these days in order to try to explain how come a small group of regulators were given power so as to be able to service our economies with an unrequested euthanasia.