White Paper: Liquidity Makes the World Go ‘Round

Over three decades of globalization, world nominal GDP expanded from $19 trillion to $89 trillion, a 4.5-fold increase. The globalization engine was fueled by the rapid expansion of world financial markets, which pumped more than $125 trillion of credit based liquidity into the system, truly a liquidity boom. Accompanying this was financial deregulation, securitization innovation, and easy money.

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