But the first book basically laid out the premise that after the housing bubble burst and it brought about a financial crisis and the greatest recession since the Great Depression and I wrote that we’d have
And what I’ve said is that, that action was what was
It’s amazing the level of financial and monetary ignorance that still permeates the establishment. I mean, the academics and the big money managers and the economists still don’t get it even after having been so spectacularly wrong about the state of the U.S.
And the reason that people have confidence that this is
And that’s what people haven’t figured out. They think that the dollar’s already rising. It has been rising recently based on the anticipation that the Fed is going to raise rates, but they can’t raise rates without precipitating another financial crisis, which would mean that they would have to flash rates. But that also means that as the economy starts to weaken simply on the anticipation of higher rates, that the Fed is forced to cut rates or do another round of QE before they ever get to the rate hike. That’s the catch-22 that people just haven’t figured out.
- Source, Peter Schiff via Wall Street Daily