It Won’t Be Long Now: The End Game Of Central Banking Is Nigh
- It Won’t Be Long Now: The End Game Of Central Banking Is Nigh
by David Stockman, http://davidstockmanscontracorner.com/
… As Contra Corner readers recognize the only consistent way forward for America at this late stage of the game is a return to free markets, fiscal rectitude, sound money, constitutional liberty, non-intervention abroad, minimalist government at home and decentralized political rule.
Unfortunately, that is not about to happen any time soon—–even if by some miracle Donald Trump is elected President.
But what the book does claim is that the tide is turning against the failed Wall Street/Washington bipartisan consensus. I call this insurrection the “revolt of the rubes” in Flyover America.
This uprising against the rule of the financial and political elites has counterparts abroad among those who voted for Brexit in the UK, against Merkel in the recent German elections in her home state, and among the growing tide of anti-Brussels sentiment reflected in polls throughout the EC.
Needless to say, the political upheaval now underway is largely an inchoate reaction to the policy failures and arrogant pretensions of the establishment rulers. Like Donald Trump himself, it does not reflect a coherent programmatic alternative.
The impending global deflation and recession will prove that 93 months of ZIRP and $3.5 trillion of QE have been a complete failure. But this insufferable Keynesian snake oil peddler has the gall to claim a roaring success moments before the greatest monetary catastrophe in recorded history begins its inexorable implosion.
The end game of Keynesian central banking is indeed nigh. The outright lunacy of Draghi, Kuroda and Fischer are more than ample warning.
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