Monday, November 8, 2010

The most ignorant remarks ever made by a central banker

Hussman on Ben's Op-Ed

We will continue this cycle until we catch on. The problem isn't only that the Fed is treating the symptoms instead of the disease. Rather, by irresponsibly promoting reckless speculation, misallocation of capital, moral hazard (careless lending without repercussions), and illusory "wealth effects," the Fed has become the disease.
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