We had to wait five years. But it turns out our suspicion that the Federal Reserve is clueless, at best, is true. We know because we read it in The New York Times.
Welcome to another Friday the 13th… Where if things aren’t exactly scary, they’re definitely surreal.
The Fed performed its ritual year-opening document purge overnight… unveiling the transcripts from Federal Open Market Committee (FOMC) meetings in 2006.
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The Federal Reserve and Other Crimes Against Capitalism
New York Times writer, Steven M. Davidoff, recently dubbed the Federal Reserve, “the most successful hedge fund around.”
After reading the article, we concluded that Mr. Davidoff is the most creative financial writer around. As such, Mr. Davidoff may be the perfect apologist for today’s dysfunctional monetary “system.” Certainly, he possesses the cerebral alacrity to dodge whatever cold, hard facts may be standing in the way of a good story.
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