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And It’s Gone! The Fed Has Obliterated Price Discovery

Summary:
“they have also kindled two dangerous ideas: that fiscal deficits don’t matter, and that no matter how much debt is outstanding, we can effortlessly, safely, and reliably pile on more.” Crucially, Klarman warns that: “The market’s usual role in price discovery has effectively been suspended.” https://www.zerohedge.com/markets/price-discovery-has-simply-vanished-bauposts-klarman-blasts-800lb-gorilla-fed-dangerously

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“they have also kindled two dangerous ideas: that fiscal deficits don’t matter, and that no matter how much debt is outstanding, we can effortlessly, safely, and reliably pile on more.”

Crucially, Klarman warns that:

“The market’s usual role in price discovery has effectively been suspended.”

https://www.zerohedge.com/markets/price-discovery-has-simply-vanished-bauposts-klarman-blasts-800lb-gorilla-fed-dangerously

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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