Загадка ликвидности

Все чаще и чаще мы слышим, что «мир захлебнулся в ликвидности» и что это оправдывает ожидания продолжающегося роста цен на рынке ценных бумаг. Но что означает такая ликвидность, и действительно ли есть повод ожидать, что она поддержит дальнейшее увеличение цен на акции и недвижимость?

Ликвидные активы – это активы, напоминающие наличные деньги, потому что они могут быть легко конвертированы в наличность и использованы для покупки других активов. Идея, похоже, заключается в том, что нас окружает огромное количество ликвидных активов и что они используются для аккумуляции денежных средств для повышения цен на акции, недвижимость, землю, предметы искусства и т.д.

Данная теория кажется столь же обширной и фундаментальной, как и теория о том, что глобальное потепление влияет на таяние ледников и повышает уровень морового океана во всем мире. Повышение уровня моря могло бы объяснить многие геологические и экономические события. Является ли повышающаяся финансовая ликвидность силой подобного рода? В любом случае, в чем заключается эта теория?

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