Former Director of the US Office of Management and Budget under Reagan calls QE infinity “undiluted lunacy” and “the final abomination”

In a simply must watch video David Stockman quite brilliantly and meticulously calls the latest efforts by the Fed out for exactly what they are, insanity.

But before you watch the speech it’s worthwhile reminding yourself just who David Stockman is, because what he certainly is not is some fringe blogger in his mother’s basement.

David Stockman’s impressive CV:

  • Special assistant to Presidential candidate John Anderson
  • A Congressman for the 95th congress
  • Director of the Office of Management and Budge for President Reagan

So when he says “the Fed did it again and i ended up thinking, this is the final abomination, the Fed has gone too far, its street fighting time”, we should really listen carefully.

Take aways:

  • QEinfinity is undiluted lunacy
  • We will print ourselves to death
  • The Fed is being run by the single most dangerous man to ever hold high office in the US
  • We are mis-pricing all the asset classed in the world

Without much further-ado here is Stockman launching into what he calls is “a full strength tirade about the Fed”.



Link to this article: : http://www.goldmadesimplenews.com/interviews/former-director-of-the-us-office-of-management-and-budget-under-reagan-calls-qe-infinity-undiluted-lunacy-and-the-final-abomination-8176/

Posted by on Sep 28 2012. Filed under Interviews. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.
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