Tuesday, March 5, 2013
Stanley Druckenmiller, Ken Langone, and others on CNBC
Stanley Druckenmiller continues his press tour and warnings about the pending doom from current fiscal policies. In this panel Stanley debates along with Home Depot founder Ken Langone, Geoffrey Canada (social activist and educator), and Kevin Warsh (Former Federal Reserve Governer). In the video they talk about how Bernanke is running the show and is continuing to provide extraordinary monetary accomodation until the labor market improves. The real question is the economy is not showing good growth so there is no end to QE and as a result they will continue to push liquidity into the system. The thought that the exit will not be easy and ordinary so that is what is particularly scary. Stan Druckenmiller points to the sell-off of QE1 and QE2 so the sell-off when its finally clearly over will be huge.