Monday, April 1, 2013

America in "End-Stage Metastasis"

Former OMB Director David Stockman pulls no punches.

"The way out would be so radical it can't happen.  It would necessitate a sweeping divorce of the state and the market economy.  It would require a renunciation of crony capitalism...It would require, finally, benching the Fed's central planners, and restoring the central bank's original mission:  to provide liquidity in times of crisis but never to buy government debt or try to micromanage the economy.  Getting the Fed out of the financial markets is the only way to put free markets and genuine wealth creation back into capitalism."

Complete N.Y. Times commentary here.

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