Financial Time Bombs Hiding in Plain Sight
by David Stockman
David Stockman’s Contra Corner
The bear will soon be arriving in earnest, marauding through the canyons of Wall Street red in tooth and claw. Our monetary central planners, of course, will once again—for the third time this century——be utterly shocked and unprepared. That’s because they have spent the better part of two decades deforming, distorting, denuding and destroying what were once serviceably free financial markets, but are clueless as to the financial time bombs this inexorably fosters.
The sum and substance of Keynesian central banking is the falsification of financial prices. In essence, this means pegging interest rates below market clearing levels on the theory that more borrowing and spending will thereby ensue.
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Source: http://financialsurvivalnetwork.com/2016/02/financial-time-bombs-hiding-in-plain-sight/?utm_source=rss&utm_medium=rss&utm_campaign=financial-time-bombs-hiding-in-plain-sight
