"Fortunately, there is nothing predestined about what will come after the exhaustion of the new normal. The road out of the upcoming "T junction" can still be influenced in a consequential manner by the choices we make, as households, companies, and governments. But to make better choices, we need to understand the forces at play and their likely evolution. There is no better way of doing so than through an examination of the world's central banks...past, present, and future." -- Mohamed A El-Erian, "The Only Game in Town"
