The US Federal Reserve is once again force-feeding liquidity into the system. At its fastest rate ever.
The result? Record high stock prices whose valuations defy all logic.
What’s wrong with that? Shouldn’t we just enjoy the party and be grateful for our rising 401ks?
What’s wrong is that the Fed’s actions are dooming us. Their poisonous cocktail of endless cheap money and rock-bottom interest rates is hastening a terminal breakdown of the economy, while deliberately enriching a tiny cadre of elites to the ruin of everyone else.