The Fed is recklessly driving us towards an unavoidable reckoning
by Adam Taggart
Chris Martenson’s Peak Prosperity
When asked what the biggest risks facing the economy are, David Stockman, lifelong Capital Hill and Wall Street insider, says “That’s easy. There are three: The Fed, The Fed and the Fed.”
After decades of misguided policy and chronically missing its targets, Stockman thinks the Federal Reserve is truly barreling off the rails now, hurtling our market economy towards disaster.
He notes that since, 2008, the Fed has subjected the country to twelve and half years of average annual real negative interest rates of -1.35%. With capital so cheap and no ability to generate a safe return on it, corporations and investors alike have been forced out on the risk curve, which has fostered rampant malinvestment and speculation.