The most characteristic feature of post-WWII business cycles is that they have originated in deliberately inflationary policies directed by central banks.
Using Japan as a model, governments are steering us toward a worldwide zombie economy — but we're likely to end up with something that looks more like Argentina than Japan.
The Fed is prepared to squeeze out what little is left of the free market forces in the debt market. The Fed wants full control so it can do "whatever it takes" to keep interest rates from rising above its very-low targets.
