Under a regime of sound money and free markets there is no need for monetary policy management----and certainly not heavy-handed pegging of money market interest rates, central bank torture of the yield curve or puts and props under the price of risk assets.
The Greenspan Chronicles, Part 2----Why Capitalist Prosperity Is Dying
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.