LowEurozone interest rates are stimulating a carry trade, lowering the euro and boosting GDP. But god help the Eurozone when markets melt down, carry positions are hastily closed and the euro soars. Ask Japan about their 9% collapse in GDP in 2008/9 as their carry trade unwound! https://t.co/dAD92RaGnA

— Albert Edwards (@albertedwards99) September 26, 2019