The brisk development of the financial market over the past few years has lulled central bank governors into the deceptive belief that they are the saviors of the world - especially since the end of the Great Financial Crisis of 2006-09. But central bankers still float back and forth like drunken sailors between Scylla and Charybdis, that is, between the forces of evil that Homer describes in his Odyssey.
Few of the bankers realized that with the funds available - unlimited money creation and worthless paper money - they would not be able to cross the Strait of Messina without causing major (but probably catastrophic) damage to the global economy.
The hype continues to reign among intoxicated stock market investors; no one yet understands that not everything is safe in this ominous sea. But most financial markets continue to respond positively to printing presses rather than underlying fundamentals.
Printing presses do not create real value; instead, they create "bubbles" in which there is nothing of value other than useless air. But, unfortunately, intoxicated investors confuse air, which is worthless, with real, intrinsic value.