Policymakers have created a Wicksellian dilemma where investment spurred by low interest rates is driving economic growth, but these inefficient investments support growth at the expense of lower productivity in the economy.
The source of the current market correction is the massive misalignment of exchange rates, which finds its roots in quantitative easing.
The energy sector represents an attractive opportunity to invest in high yielding securities, but investors must consider the sector specific first- and second-order effects of depressed energy prices.
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