Mr. Smith points out that the "Swiss central bank admitted to spending $470 billion on currency market manipulation since 2010." That's an enormous amount of money for a very small country to spend. That has to be an expenditure coming under the heading of desperation measures and something far removed from any kind of long-term productive purpose.
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Here is the craziness: nothing has actually been fixed in the past 7 years. Rather, everything that was broken in 2008 has been ramped up to an even higher levels of craziness. The crazy solution to bursting housing bubbles is even bigger housing bubbles (see Sweden, China and the U.S.).
 "Is the World Getting Crazier, But We No Longer Notice?" By Charles Hugh Smith, Of Two Minds, 4/29/16.