I realized that Tim Lee, the founder at piEconomics, had got it all figured out before he recently retired. Along with co-authors Jamie Lee and Kevin Coldiron in The Rise Of Carry, he laid out his theory of how unprecedented levels — and types of — central bank intervention in financial markets over the past few decades have turned the global economy into a series of overlapping carry trades.
Read the Book Review by Christopher Shelling, Institutional Investor: https://www.institutionalinvestor.com/article/b1kr4hfdm6q2n4/The-World-Is-One-Big-Carry-Trade
