“Well, we are right back at it: trying to stimulate growth through easy money. It hasn’t worked, but it’s the only tool the Fed’s got. Meanwhile, the Fed’s policies widen the wealth gap, which feeds political extremism, forcing gridlock in Washington. It seems the world is headed toward negative real interest rates on a global scale. This is toxic. Interest rates are used to price risk, and so in the current environment, the risk-pricing mechanism is broken. That is not healthy for an economy. We are building up terrific stresses in the system, and any fault lines there will certainly harm the outlook.”
http://nymag.com/daily/intelligencer/2015/12/big-short-genius-says-another-crisis-is-coming.html
Related posts:
Bitcoin on BBC Click
Looking to play the rental market? Blackstone wants you
WTC security failures prompt additional $60 million for contractors
Raw sewage makes summer swimming hazardous in New York
Delaware taxpayers increasingly on the hook as Fisker auto plant idles
Google, once disdainful of lobbying, now a master of Washington influence
NSA spying allegations mean U.S. could provide ‘virtually unlimited’ info on citizens to allies
Holiday in Thailand could end for expats
Icelanders Demanding Up to 50% Pay Rise Show Crisis Ripples
Feds arrest Dr. Farid Fata, accused of fraud & deliberately prolonging chemo for cancer patients
IMF: infrastructure spending spree last chance to revive growth
Filibuster change clears way for White House to stack ObamaCare panel
NSA chief defends his agency’s ‘noble mission’ to defend the U.S.
Kwame Kilpatrick guilty: For destitute Detroit, downfall of ex-mayor complete
Investment firm VanEck calls bitcoin a 'fad,' then files for bitcoin ETF