kingworldnews.com / June 18, 2013
Today
the man who oversees more than $150 billion warned King World News
about the high likelihood of a coming great inflation, or worse yet the
possibility of a hyperinflationary collapse. Rob Arnott, who has won an
unprecedented six Graham & Dodd Awards and is also Chairman of
Research Affiliates, also warned KWN about the dangers of what the Fed
and other central planners are engaging in as they lead us into a
reckless and potentially game-ending and destructive “Hyper-Keynes”
policy.
Arnott: “The Fed has painted itself awfully far into a
corner and there is no graceful way out. When you reach a point where
talk of ‘tapering’ causes markets to tremble with fear, that’s not a
good place to be because it means that you’ve really got the markets
addicted to the newly printed money.
And the only way to get the
markets attention is to give it more (freshly printed money). It’s just
like a crack addiction. This is not healthy and doesn’t play out
nicely, and you do have asset bubbles fueled by central bank profligacy
all over the world. That also sows seeds of risk because as the Fed
backs off from the quantitative easing you wind up creating risks of
pretty sharp and adverse market reactions….
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