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IPFS News Link • Federal Reserve

A Homerun For The Donald...

• https://www.lewrockwell.com, By David Stockman

As a matter of fact, that appears to be exactly what Donald Trump unloaded on bubble vision this morning:

By keeping interest rates low, the Fed has created a "false stock market," Donald Trump argued in a wide-ranging CNBC interview, exclaiming that Fed Chair Janet Yellen and central bank policymakers are very political, and should be "ashamed"of what they're doing to the country…

He's completely correct. After all, they are crushing real wages with their 2% inflation targeting; destroying savers with NIRP and sub-zero rates, and burying unborn taxpayers in monumental debts that today's politicians are pleased to issue with reckless abandon because the short-run carry cost is nil.

Interest on the Uncle Sam's $19.4 trillion of debt, for example, is easily $500 billion lower than its true economic cost based on a normal yield after inflation and taxes and elimination of the phony $100 billion per year in so-called Fed "profits" that are booked by the treasury as negative interest expense.


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