David Stockman, the former director of the Office of Management and Budget recently appeared on CNBC and had some choice words for the FED and both political parties:
"Ron Paul is the only one who is right about the Fed, and the Fed is the heart of the problem. They have destroyed the capital markets and the money markets; interest rates mean nothing; everything is trading off the Fed and Wall Street isn't even home – as it's now a bunch of computers trading word-clouds emitted by this central banker and that"
"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk."
“TARP was an abomination”
“Why should the government reform when they can borrow money at essentially zero interest?”
“Morgan Stanley should have been allowed to go down”
“If you can’t fail, you shouldn’t succeed”
“We have no industrial enemies, but we spend $800 billion per year on the military industrial complex. I would cut it by a third”
“Means test social security and Medicare”
“We are crushing savers”
“The Obama budget is total fantasy”
“The problem we have now is two free lunch parties in Washington”
“Republicans are out of their minds”
“We can’t keep simulating this economy by borrowing from the future”
“We have to eat our broccoli”
“We have all these boys and girls on wall street begging the FED for another injection of sugar.”
“Day one, hour one, job one for Romney is to fire Bernanke”
“Clean house at the Fed. That is where the crisis came from and that is why we are still buried.”
Too bad we Americans vote for people who tell us Santa Claus and the Tooth Fairy are real and we think that this fiscal disaster is going to hurt the other guy.
"Ron Paul is the only one who is right about the Fed, and the Fed is the heart of the problem. They have destroyed the capital markets and the money markets; interest rates mean nothing; everything is trading off the Fed and Wall Street isn't even home – as it's now a bunch of computers trading word-clouds emitted by this central banker and that"
"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk."
“TARP was an abomination”
“Why should the government reform when they can borrow money at essentially zero interest?”
“Morgan Stanley should have been allowed to go down”
“If you can’t fail, you shouldn’t succeed”
“We have no industrial enemies, but we spend $800 billion per year on the military industrial complex. I would cut it by a third”
“Means test social security and Medicare”
“We are crushing savers”
“The Obama budget is total fantasy”
“The problem we have now is two free lunch parties in Washington”
“Republicans are out of their minds”
“We can’t keep simulating this economy by borrowing from the future”
“We have to eat our broccoli”
“We have all these boys and girls on wall street begging the FED for another injection of sugar.”
“Day one, hour one, job one for Romney is to fire Bernanke”
“Clean house at the Fed. That is where the crisis came from and that is why we are still buried.”
Too bad we Americans vote for people who tell us Santa Claus and the Tooth Fairy are real and we think that this fiscal disaster is going to hurt the other guy.
