As the period of ultra-loose monetary policy in the developed world inches to a close, a paradox calls for explanation. Throughout this extraordinary monetary experiment managers of listed companies appeared to see risks everywhere and have been reluctant to invest in fixed assets despite enjoying the lowest borrowing costs in history. By contrast financial institutions have been fearless in propelling markets ever higher.
隨著發達國家的超寬松貨幣政策期接近終結，一個矛盾需要得到解釋。縱觀這次不尋常的貨幣實驗，上市公司的管理者眼里似乎到處都是風險，盡管隨手可得史上最低的借款成本，他們卻不愿投資于固定資產。相比之下，金融機構卻像不要命似的不斷推高市場。
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