January 4, 2014
Saturday’s guest is former President Ronald Reagan’s Director of the Office of Management and Budget. He has recently published a book entitled The Great Deformation: The Corruption of Capitalism in America.
“The Fed shouldn’t be creating bubbles…they can’t do the job. They’re failing.”
Mr. Stockman asserts that the Fed is creating bubbles and then flooding the market with liquidity rather than adhering to its original mission which is simply to supply liquidity at a floating interest rate rather than being the central planner for the US economy. He says, “Twelve people on the Open Market Committee are the monetary politburo for the western world.”
Mr. Stockman asserts that the Fed is creating bubbles and then flooding the market with liquidity rather than adhering to its original mission which is simply to supply liquidity at a floating interest rate rather than being the central planner for the US economy. He says, “Twelve people on the Open Market Committee are the monetary politburo for the western world.”