Friday, September 21, 2012

The Fed Is the Heart of the Problem

That is what David Stockman told CNBC last week. Have a look:

The money quote: ". . .the fed and these lunatics who are running it, and I use that word advisedly, are basically telling the whole world untruths about the cost of money, about the cost of risk, about how you allocate capital." In such a world, he rightly wonders, how can we hope to restore free market capitalism.

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