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Beyond the Vanishing Point
Turning Junk into Gold
THE CARRY REGIME DESCRIBES THE WAY THE FINANCIAL markets and economy work, a way that is different from the understanding of more conventional thinking in economics and finance. It is because of the carry regime that economists using standard models have not been able to explain satisfactorily economic developments and financial market phenomena that have occurred over the past 20 years, including most notably the global financial crisis of 2007–2009.
We have argued in this book that carry is a naturally occurring phenomenon, but we have suggested that it has been turbocharged by the regime of fiat money and central bank policies. It is quite obvious, as we hope we have convincingly demonstrated, ...
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