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Appetite for Destruction

Summary:
The Federal Reserve’s destructive money-pumping has many victims. But chief among these is the Wall Street financial narrative itself. It emits not a whiff about the patent absurdity of the Fed’s monthly purchase of 0 billion of treasury and government-sponsored-entity debt under current circumstances; and treats with complete respect and seriousness the juvenile word game […]

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The Federal Reserve’s destructive money-pumping has many victims. But chief among these is the Wall Street financial narrative itself. It emits not a whiff about the patent absurdity of the Fed’s monthly purchase of $120 billion of treasury and government-sponsored-entity debt under current circumstances; and treats with complete respect and seriousness the juvenile word game […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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