yeah accurate, but if you take out the 'conflict' and 'WWIII' parts you'll see that it is a coordinated effort between all the major players to spur all the economies.
The central banks are all trying to get people to diversify into higher risk assets further up the yield curve, by pushing everything into negative yielding territory.
They are trying to spur the economy by getting everyone else to circulate money to groups that are marginalized out of low growth investment grade sectors.
No accident and no economic war whatsoever.
Pump further? As long as the marginally higher risk businesses don't default all at once, the central banks and everyone else will get all of their principle back.
Of the investment grade bonds being issued, it is largely no questions asked general purpose money for the corporation issuing it. They can use those billions to buy up startups all they want making all the laborers very wealthy. If they want.
I was seeing it as a conflict primarily because the world does not provide us with an infinite supply of resources or human capital. This pumping can therefore only work to the extent that it can generate some medium-long term real ROI. Otherwise you get an eventual deflationary collapse when waves of debt defaults occur because nothing anywhere is generating a return sufficient to maintain payments on your also-inflating asset prices. (See also: house prices vs. median income in major cities.)
The conflict, therefore, is being fought by major powers via their ability to generate real ROI. It's a game of chicken. The loser is the one who deflates first and gets purchased by the winners.
Cooperative behavior is not mutually exclusive with this hypothesis. It's in the best interest of individuals within all of these major super-states to hedge by investing in the others. Whether or not this overcomes the game of chicken aspect and leads to a win/win/win outcome depends on whether we can all -- collectively -- scale and grow or whether limits to growth are reached.
The central banks are all trying to get people to diversify into higher risk assets further up the yield curve, by pushing everything into negative yielding territory.
They are trying to spur the economy by getting everyone else to circulate money to groups that are marginalized out of low growth investment grade sectors.
No accident and no economic war whatsoever.
Pump further? As long as the marginally higher risk businesses don't default all at once, the central banks and everyone else will get all of their principle back.
Of the investment grade bonds being issued, it is largely no questions asked general purpose money for the corporation issuing it. They can use those billions to buy up startups all they want making all the laborers very wealthy. If they want.