David Stockman, a former Director of the Office of Management and Budget under President Reagan, shared with CNBC his thoughts about the Federal Reserve’s policies. Like Peter Schiff, Stockman had no kind words to spare for Fed.
“This whole taper kabuki dance is a farce, really. It will end up in a gong show, a cacophony at the Fed, confusion in the markets, and calamity for the economy. They never should have painted themselves so deep into this QE corner in the first place, because you know the whole predicate is false. We didn’t need zero interest rates for seven years, because we’re already at peak debt. Forcing more credit into the economy didn’t work, it just encouraged gambling on Wall Street, and fiscal irresponsibility in Washington.”
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Fed Policy Will Bring Economic Calamity (Video)
David Stockman, a former Director of the Office of Management and Budget under President Reagan, shared with CNBC his thoughts about the Federal Reserve’s policies. Like Peter Schiff, Stockman had no kind words to spare for Fed.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!