The Fed's Deadly Instrument of Speculation

Yes. David Stockman is an author. He is interested in selling books, in particular his recent The Great Deformation. Points all considered and duly registered. But his cautions are real and his delivery blunt. "The Corruption of Capitalism in America" is the title of his March 31, 2013 New York Times piece. His fundamental point is that the "latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode..." Essentially he states that when the Fed decides it must rest or withdraw from its hyper-accommodative policies, the market will "panic." There is too much company leaning in one direction and it all relies on the "final word" of the Federal Reserve and Ben Bernanke. The American Thinker posted an article to just this point a few days before Mr. Stockman's New York Times op ed. Mr. Stockman could not be more adamant about his position. He drives home the fact that the massive accommodations have had...(Read Full Article)