Today I look at how the stock markets have reacted to the Bank of Japan's announcement overnight that they will provide stimulus and support to the stock markets. There are now expectations that not only the BOJ but all the other major Central Banks will act to try and stop the market meltdown that started about a week ago.
My conclusion is that the Central Bankers are now fighting a losing battle in terms of reviving the world economy and that their desperate actions might help stocks but will do very little to revive the animal spirits of consumers in the short term.
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