U.S. Moral Bankruptcy Could Lead to Economic Depression Fundraiser - Econ Lessons

[bucolic_frolic]

1. Economics & morality? I'm not following his reasoning.

The Fed created this monster with 25 years of low interest rates. Began with Greenspan's "extraordinary, extraordinary, extraordinary" low rates. That flooded capital markets with liquidity. A little money trickled down to those least able to manage it, and they bought houses, cars, educations they could never hope to pay back, and all the while the bulk of money went UP the income scale to corporations, CEO's, private equity, and Oligarchs. This wealth at the top has been manufactured by central bankers as they try to keep the economy steady. The loan is coming due. I think any reference to moral bankruptcy is ludicrous. It's simple greed, same as it always was.