Thursday, June 16, 2016

Keynesianism and the abyss.

Virtually every measure of industrial production is heading south yet, [Fed Chairwoman of the Board of Governors of the Federal Reserve] Yellen pretends that just a few more months of ZIRP will do the trick.

* * * *

. . . Yellen and her merry band of money printers are simply prolonging the inevitable day of reckoning when the third great financial bubble of this century comes crashing down.[1]

90 months of ZIRP are going to ignite our rocket sometime soon. Very soon. Very, very soon.

[1] "Janet Whiffs Again——Take Cover Now!" By David Stockman, Stockman's Corner, 6/15/16.

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