Another day in government’s office

Jon Banking, Economy, Fiscal Policies, Government, Market Commentary

Today as I do every day I went to my website’s many RSS feeds and read reports and commentaries that have become painfully familiar. Here are some items I found:
David Stockman’s hard-hitting article that urges Donald Trump to slam the Fed in the upcoming presidential debate for its crucifixion of what Stockman calls Flyover America. ‘The Fed’s core policies of 2% inflation and 0% interest rates . . . are based on the specious academic theory that financial gambling fuels economic growth and that all economic classes prosper from inflation and march in lockstep together as prices and wages ascend on the Fed’s appointed path.’ Stockman adds: ‘Putting the wood to the Fed is the right answer for what ails the American economy. Monday night would be a good place for the Donald to line-up with the 90% who have been left behind.’
Unfortunately, putting the wood to the Fed doesn’t mean eliminating it, in Stockman’s view.

This post was published at GoldSeek on Thursday, 22 September 2016.