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David Stockman Sums It All Up In 3 Minutes

Stockman unleashes truthiness hell on Bloomberg TV: "Federal Reserve [actions] will have disastrous long-term consequences... when you deny price-discovery in the market for so long, it is a massive subsidy to speculation... In an era of peak debt, the only thing zero interest rates achieve is create an enormous incentive for Wall Street to gamble more and more recklessly..."


195 seconds... watch, listen, and think...