Do they make economic defibrillators?
Alas, it is not to be. Rather, it is another "voice from the wilderness," sounding the alarm that those flying this economic crazy plane are doing so straight into the bleeping ground:
Grant’s Interest Rate Observer founder Jim Grant believes the Fed Reserve is "constitutionally behind the curve" and that a thunderclap of unexpected problems could strike the economy as a result.
Grant told Fox Business Network that the uncharted territory the Fed has been in with its vast monetary stimulus means no one can predict the eventual outcome.
Oh, I think I can. Does the name "Weimar" ring any bells?
Grant noted Fed Chair conceded in a recent interview she did not see the 2008 housing crisis and credit market meltdown coming, and that her Fed chair predecessor Ben Bernanke has admitted taking unique steps to try to fix the Great Recession.
That's reassuring.
“So we are in the midst of this great improvisation. “I think the Fed is constitutionally behind the curve and no doubt will remain so,” said Grant, a frequent critic of Fed policy.
It isn't "improvisation". It's a vastly destructive economic incentive for ever greater piles of public and private debt that an already depressed economy cannot afford and cannot repay, with currency that is unbacked, unreliable, increasingly distrusted by the rest of the world, and inevitably worthless. If somebody had deliberately set out to comprehensively "kill the golden goose" of American capitalism, they could not have done any better than what Barack Obama and his minions, including "Helicopter Ben" Bernanke and Janet "Old" Yellen, have done.
That isn't "improvisation"; that's sabotage.
"Thunderclap," indeed.
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