我们处于一个全新的周期节点,很多无法解释的经济异像反衬出经典理论和主流认知的匮乏。货币当局从过去的危机中吸取教训,但为了解决已知的问题,却将风险赶入未知的“水域”。目前,全球经济正处在从没经历过的三重叠加的迷雾里,即人口老龄化、超级债务与货币周期、超低实际利率与投资收益率。在迷雾中的全球经济慢慢驶向了“百慕大”深处。 We are at a brand new cycle node. Many unexplainable economic anomalies contradict the classical theory and lack of mainstream cognition. Monetary authorities have learned from the crises of the past but, in order to solve known problems, have driven the risks into the unknown “waters.” At present, the global economy is in the midst of a triple-layered fog that has never been experienced: population aging, super-debt and the currency cycle, ultra-low real interest rates and investment yields. The global economy in the fog slowly drove deeper into Bermuda.