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July 25, 2012
"The monetary Politburo of the Western world"
Alex:A twelve-person Open Market Committee determining the future of our economy by manipulating rates. Sounds like central planning to me.David Stockman:
It is. They are monetary central planners who are attempting to use the crude instrument of interest-rate pegging and yield-curve manipulation and essentially buying debt that no one else would buy, in order to keep this whole system afloat. It's Ponzi economics. Anybody who had financial training before 1970 would instantly recognize this as Ponzi economics. -- David Stockman: "The Capital Markets Are Simply A Branch Casino Of The Central Bank" | ZeroHedge HT: Maggies
Posted by gerardvanderleun at July 25, 2012 7:41 AM. This is an entry on the sideblog of American Digest: Check it out.