The 15 Year Widely Embraced Lie:
Monetary policy "helping the economy"
Interest rates and jobs:
ZH: April 18, 2015:
Citadel Investment Group
Bernankenstein's new Wall Street employer saying the same thing, two years ago:
"The Fed’s policies are doing two things that I am very gravely concerned about. Number one is we have all learned over the years that if you reduce the cost of capital you increase your use of fixed assets and you take out jobs. Corporate America seeing an ever increasing cost for its employee base and extraordinary low interest rates is taking every step they can possibly take to reduce employment, to build factories abroad and domestically to substitute technology and automated processes for people. So one of the very sad negative characteristics of the Fed’s policies is it’s leading to job destruction.”
Fast forward two years:
ZH: April 16, 2015
Citadel Investment Group
Wall Street's bukkake whore joins the most highly leveraged HFT firm on Wall Street
Bernankenstein and Skynet. At one with the machine. A corrupt society can't recognize corruption.
The Fed didn't circumvent reality, they sponsored a six year corporate job annihilating debt binge, leaving nothing left to bail out at the end of it. But don't take my word for it, ask Bernankenstein's new/old boss.
