Central banks controlled by unelected posse have run amok…
SBTV spoke with David Stockman, the former Director of the Office of Management and Budget under President Ronald Reagan, about how the Federal Reserve’s policies are sending the economy into a prosperity-extinguishing crisis.
David Stockman is also the author of several books including his latest book ‘Peak Trump: The Undrainable Swamp and the Fantasy of MAGA’.
Discussed in this interview:
04:18 Real negative fed funds rate reflated Wall Street
08:18 Central banks controlled by unelected posse have run amok
11:44 About time we end the Fed?
20:07 Do deficits matter to the United States?
23:01 No empirical evidence to support Fed’s 2% inflation target
26:51 How Greenspan started the Federal Reserve on the path to wealth destruction
33:31 When Nixon closed the gold window in 1971
37:23 How David Stockman would approach the fixing of the US economy