Unabashed Fed critic and bestselling author David Stockman explains how the Federal Reserve created what he calls a “Warren Buffett economy” where easy money flows to the wealthiest, while average Americans are left behind.
During this candid excerpt (from a longer interview with Hedgeye CEO Keith McCullough) Stockman cites some alarming statistics from his new book “Trumped” explaining how the Greenspan Fed stoked a “huge financialization of the U.S. economy.”
He also discusses why the U.S.’s $93 trillion in total economic market capitalization is “not warranted by the fundamentals.”
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