Stockman: Central Banks ‘Out of Control Fueling Bubble’

Jon Banking, Economy, Fiscal Policies, Geopolitics, Government

David Stockman, White House budget director under President Reagan, has warned about the dangers of a financial crisis for some time, and he's not backing down now.
"Each and every day the central banks in the world get more out of control fueling a bubble the likes of which we have never seen in modern times, if ever," he told Fox Business Network.
Stockman was referring to central bank easing programs. The Federal Reserve apparently plans to keep interest rates near zero until at least the middle of next year.
Meanwhile, the Bank of Japan recently announced a major increase in its monetary stimulus, and European Central Bank President Mario Draghi has said in recent weeks that the ECB will expand its accommodation, too.

This post was published at Newsmax