David Stockman Brings New Meaning To ‘Flawed Economic Analysis’

In a lengthy op-ed for the Sunday New York Times meant to reveal all that’s wrong with today’s economy, David Stockman, while occasionally very right, succeeded most in showing how little the economy would improve were we to adopt his ideas. A relatively short article couldn’t possibly do justice to all the falsehoods within Stockman’s polemic, but this one will try. First up, Stockman predicts that “this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too.” Let it first be said that on matters monetary Stockman is partially in the right, that the Fed’s quantitative easing measures are an abomination that plainly expose the adolescent thinkers in residence at the world’s foremost central bank.

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