On Sunday night, 60 Minutes treated the American public to a sit-down interview with the current Federal Reserve chairman and his two immediate predecessors.
Not really…unless you enjoy gallows humor.
In the below video, Chris explains why this relatively gentle puff-piece assisting the Fed's hawking of its “All is well!” message is an intentional soporific, designed to keep the populace slumbering in ignorance of the extreme danger reckless central bank monetary policy has placed society in.
Price discovery in the financial markets has been destroyed, resulting in vastly overvalued asset prices that must painfully correct eventually. The elite 1% has become far richer than it was a decade ago at the 99%'s expense. Savers have been terribly punished. The prospects of the generations following the Baby Boomers have been tragically eroded.
In reaction to the above unfairness, our social fabric is fraying. We are more polarized than ever, more willing to fight with the factions who don't share our beliefs, and more willing to tear down the fundamental pillars of our society is built on.
Thank you Federal Reserve!