“The government is very good at making things overly complicated for the purpose of obscuring what’s really going on from the public,” observed hedge fund manager Erik Townsend during our interview in May. He was making a point about the 2008 bailouts. The Federal Reserve played a leading role, applying trillions in paper-clip and rubber-band solutions. The Fed’s balance sheet swelled[...]
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The Central Bank Experiment that’s Destroying the Economy
By Addison Wiggin Addison Wiggin: When Janet Yellen gave her first news conference as Federal Reserve chair in March, the media pounced on her for “stumbling”; she was asked how soon they’d start raising the fed funds rate once quantitative easing was over and she said “about six months.” The market freaked out for an hour or so. But what else could she say? Imagine if she’d been[...]