Hey, Donald, The Problem Is The Fed’s Easy Money Booms, Not Its Belated Efforts To Normalize

Like the public in general, Donald Trump continues to labor under the mistaken impression that the threats to the economy come during the tightening stage of Fed policy, although the real problem comes in long before this. After all, economic busts do not materialize out of market forces or magical phenomena which will forever remain a mystery. Rather, the bust is a result of new money creation by commercial banks and central banks — but always enabled by central banks and government policy.