“I don’t think there has been a greater engine of inequality than the Federal Reserve Bank of the United States”. Stan Druckenmiller
“Americans should increasingly question the role of the Fed and its impact on society. It’s not normal, nor should it be, that the economy keeps running from bust to bust to bust and requires ever more debt and intervention to “save it” from the fall out of the asset bubbles the Fed has propagated time and time again. And markets are again, as Druckenmiller has pointed out, in a massive asset bubble as the Fed arrogantly and fanatically insists on continuing the run the biggest QE program in history, despite buybacks at record highs, despite inflations concerns skyrocketing, despite historic valuations, despite the fastest GDP growth in 50 years and despite corporate earnings having fully recovered. If not now, then when? When things slow down? When things suddenly become uncertain again? That’s when the Fed will taper and end QE? Don’t believe a word of it.”
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