As this story states: "It remains unclear how much of the equity market rally has been 'genuine', rather than simply a 'mopping up' of that extraordinary injection of liquidity,". No doubt, there has been real earnings, by real companies, as this massive market manipulation occurred, but growth like that depends on the same distortion of the markets going forward as well. Think of America's housing boom.
Central banks pump £3 trillion into world economy - Telegraph: www.telegraph.co.uk/finance/economics/8472465/Cent....html
http://chum.ly/n/871c42
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