Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: DannyTN

You do not address what Central Banks worldwide have done that have been the primary cause of the boom & bust cycles as well as mis allocation of capital.


48 posted on 06/22/2013 12:36:51 PM PDT by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
[ Post Reply | Private Reply | To 40 | View Replies ]


To: iopscusa; DannyTN

Check out David Stockman’s new book ‘The Great Deformation” and his take on the holiest of holies - The Fed’s Potemkin village. The long-standing Wall Street mantra held that the American consumer is endlessly resilient and always able to bounce back into the malls. In truth, however, that was just another way of saying that consumers were willing to spend all they could borrow. That was the essence of Keynesian policy, and to accept the current situation as benign is also to deny that interest rates will ever normalize. The implication is that Bernanke has invented the free lunch after all - zero rates forever. Implicitly, then, Wall Street economists are financial repression deniers.


49 posted on 06/22/2013 12:42:39 PM PDT by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
[ Post Reply | Private Reply | To 48 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson