Markets have been trained to expect easy money from central banks, he said, and the “perverse effect” of that has been for “a significant chunk of global financ

Markets have been trained to expect easy money from central banks, he said, and the “perverse effect” of that has been for “a significant chunk of global financial activity” to flood into asset management, private equity and hedge funds, among other less-regulated entities. The gyrations in markets since the easy money era ended this year can be understood as that significant chunk looking for a new home, investment-wise. It also links to Adam Tooze's article coining "polycrisis". https://adamtooze.substack.com/p/chartbook-130-defining-polycrisis https://adamtooze.substack.com/p/chartbook-130-defining-poly...