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Bubbles In Plain Sight

Summary:
It is appropriately said that to a repairman with only a hammer, every problem looks like a nail; and, by extension, to a Keynesian central banker with a printing press there can never be enough liquidity. Alas, the Fed’s liquidity fire hose has no targeting mechanism and eventually that leads to big time trouble. As […]

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It is appropriately said that to a repairman with only a hammer, every problem looks like a nail; and, by extension, to a Keynesian central banker with a printing press there can never be enough liquidity. Alas, the Fed’s liquidity fire hose has no targeting mechanism and eventually that leads to big time trouble. As […]
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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