Not a damn thing has been fixed since the 2008 financial crisis. Everything that caused it has been repeated, except this time it’s even worse. There’s even more debt, even bigger “too-big-to-fail” banks, even stupider speculation and mal-investment, and worst of all, even more blind faith belief in the omnipotence of con-artist central bankers.
Instead of learning from the mistakes of the past, central bankers, governments, speculators, and consumers doubled down on them. Today, there’s a collection of bubbles: an auto loan bubble, a student loan bubble, a stock market bubble, a real estate bubble, and, the biggest of all, a government debt bubble. All these bubbles are a direct result of the Federal Reserve’s artificial suppression of interest rates and intentional inflation of financial asset prices.
All bubbles have one thing in common: they eventually pop. This time will not be different, except that the damage and pain endured will be magnitudes greater. None of this lunacy would be happening in a free market, where the long forgotten principles of supply and demand dictate rather than the central planning of the monetary quacks at the Federal Reserve. Free the markets! End the Fed!