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News Link • Economy - Economics USA

David Stockman: We've Been Lied To, Robbed, And Misled

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In "The Great Deformation: The Corruption of Capitalism in America," Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.

Then, when the Fed’s fire hoses started spraying an elephant soup of liquidity injections in every direction and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Street and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.

~ David Stockman, The Great Deformation


1 Comments in Response to

Comment by Stupid Amerkin
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ya think?


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