Loading ...A sagacious ZH reader:
It’s so weirdthat these high powered money types are, today, shrieking the end of the world is nigh because Fed monetary policy is too loose and everything in sight is being pumped up in value.‘Fake Value,’ they say. Then they go on and lament that asset prices are artificially too high and out of control. Implied is the Demand for the Fed to Come To Its Senses and end this nonsense.
Weird.
These articles read almost exactly like the ones that were written circa 2010 – 2014 during the days of QE1 and the first ZIRP experiment, and other gifts of free money to Wall Street. Bernanke’s pioneering days.
But …….
Wall Street was NOT writing those articles. People who were afraid of endless QE combined with endless TARP and endless ZIRP / NIRP were writing them.
Wall Street laughed at them and happily accepted the gifted cash.
Full Circle. Ben’s Legacy. Ben Bernanke … The Mother of MMT. It’s a permanent feature now.It not only won’t end in my lifetime …. It can’t end in my life time or the result will rival EU – Yellowstone after the Euro explodes. Even if the Fed tries to taper, Wall Street will tantrum massively and we will see the return of mysterious liquidity withdrawals that everyone seems so flummoxed about.