Last Friday, I posted an appearance of David Stockman on CNBC discussing the destructive consequences of the FED's meddling in the economy. His appearance on that network was before Ben Bernanke announced QEInfinity. Since then he has appeared on Capital Account hosted by Lauren Lyster where I think he is even better and more eloquent. Stockman does an excellent job documenting the ways in which the FED, as a practical arm of the U.S. government, behaves precisely as Nassau Senior described in the quote from yesterday.
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