The money behind the spike

The spike in Irish bond prices is a new bubble based on the huge amount of quantitative easing money looking for a home, writes David McWilliams.

27th January, 2013
The price of all assets is rising because a wall of money is pushing them up.

The other day, there was an arresting interview online from Davos. It featured a guy called Ray Dalio. This man manages a startling $140 billion and speculates in the markets. He started with $5 million, so evidently he is good at what he does.

While much of the coverage here was on Enda Kenny and what he was saying about how much the rest of the world loves us, the interview with Dalio was, for me, the...

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