From Livemint.com: In recent years, money was cheap and other assets were expensive. As each of the global economy’s credit creation engines breaks down and systemic leverage reduces, money becomes scarce and expensive, triggering adjustments in asset prices in a reversal of this process.
In the current financial crisis, the quantum of available capital, the munificent resources of central banks and sovereign wealth funds and the globalization of capital flows may be some of the accepted “facts” that are revealed to be grand illusions. …. Full Article: Source