Federal Reserve

Federal Reserve

Upside, Downside

Federal Reserve By David Stockman.  |  February 10, 2020

The ill effects of monetary central planning are nearly endless. Foremost among them, though, is its corruption of the financial and economic culture. There is simply no end to the rot. Read More

Wild and Crazy Monetary Central Planners

Federal Reserve By David Stockman.  |  January 13, 2020

The robb'd that smiles, steals something from the thief; he robs himself that spends a bootless grief. –William Shakespeare, Othello (~1603-04 What if they audited the Fed? It’s a good question. Read More

People, Get Ready

Federal Reserve By David Stockman.  |  January 2, 2020

Editor’s Note: Happy New Year! It’s the first trading day of 2020, and all the major equity indices are in the green… of course, the Federal Reserve’s “not QE” liquidity injections have more than a Read More

What Would Paul Volcker Do?

Federal Reserve By David Stockman.  |  December 12, 2019

To know and not to know, to be conscious of complete truthfulness while telling carefully constructed lies, to hold simultaneously two opinions which cancelled out, knowing them to be contradictory and believing in both of Read More

Easy Money Is Exhausting

Federal Reserve By David Stockman.  |  December 11, 2019

The point is there ain’t no point. – Cormac McCarthy, No Country for Old Men (2005) The Federal Reserve is out with its final interest-rate decision of the year. Read More

They Don’t Make Central Bankers Like This Anymore

Federal Reserve By David Stockman.  |  December 9, 2019

It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. Read More

Between Hope and Illusion

Federal Reserve By David Stockman.  |  December 6, 2019

One day everything will be well, that is our hope; Everything’s fine today, that is our illusion. – Voltaire, “Poem on the Lisbon Disaster” (1756) That’s one explosive rally on Wall Street today. Read More

Fight the Fed

Federal Reserve By David Stockman.  |  November 26, 2019

An unbelieved truth can hurt a man much more than a lie. It takes great courage to back truth unacceptable to our times. There’s a punishment for it, and it’s usually crucifixion. Read More

Fight the Fed

Federal Reserve By David Stockman.  |  November 27, 2019

An unbelieved truth can hurt a man much more than a lie. It takes great courage to back truth unacceptable to our times. There’s a punishment for it, and it’s usually crucifixion. Read More

How to Give Thanks at “Peak Debt”

Economy By David Stockman.  |  November 25, 2019

A recent Wall Street Journal piece on the raging insanity in the auto loan market tells you why this going-on-126-months-old “recovery” is a ticking time-bomb, not a singular success that warrants the Federal Reserve doing “whatever it Read More