"What are the basic requirements for becoming the chief economist of the IMF? Judging from what we have seen so far, the person concerned has to be a died-in-the-wool statist and fully agree with the (neo-) Keynesian faith, i.e., he or she has to support more of the same hoary inflationism that has never worked in recorded history anywhere. In other words, to qualify for that fat 100% tax-free salary (ironically paid for by assorted tax serfs), one has to be in favor of central economic planning and support policies fully in line with today’s economically illiterate orthodoxy. Meet Maurice Obstfeld, who has just taken the mantle."
Indeed, Central Bankers' biggest fear is that inflation and QE will not continue ad infinitum. When I drive around my town, I see so many empty commercial buildings, meanwhile new commercial buildings are erected practically daily. This is absolute evidence that supply and demand has not been let to follow a natural path. Rather, As Tenebrarum describes, the lunatics who are running the financial asylum are bolstering a system whereby ghost money goes from pocket to pocket among the cronies and the Average Middle Class Man is paying the tab via inflation.
It is "ghost money" because Central Banks keep creating money from nothing, which is the cause of all these credit bubbles and global financial meltdowns. And the government that is supposed to look out for the public is, instead, merrily complicit. All the reports of the economy getting healthier and optimism over supposed job and wage growth are completely falsified.
The real picture, per The Burning Platform:
"Lastly, we put the cherry on the cake of governmental incompetence, recklessness, self interest, and foolish disregard for the taxpayer. Fannie and Freddie are again reporting losses. Home prices have been driven by speculators, hedge funds, and foreign money to new record highs. Mortgage rates remain near record lows and will immediately spike when the Fed increases rates. The middle and lower classes have seen their real household income continue to shrink."
What's happening is that bankers continue to play fast and loose with money and credit, knowing that the taxpayer is going to foot the bill. They are creating bubbles knowing that the taxpayer is going to bail them out when things get out of control.
Quoting The Burning Platform again:
"We’ve allowed our nation to be overtaken by a financial elite who have captured the politicians, the judiciary, the mass media, and the economic levers of the state. The issuance of ever increasing levels of debt leads to their enrichment and our impoverishment. If we continue to act like passive sheep, we will forever be ruled by wolves."
I truly wish Americans would turn off their damn Dancing With The Stars bullshit. I wish they'd stop buying selfie sticks. I wish these things because I want the passive, yet entertained, vapid little sheep to start taking a look at what's really going on this country. If the same energy for entertainment were put toward creating a better nation, we'd live a completely different world. I don't know about you, but I'm tired of paying bankers, politicians, CEOs and financial speculators all my hard-earned money. The do not deserve, nor do they have a right to determine prices and interest rates that ought to be set naturally by true - not fictionalized - supply and demand. Wake up, people! It's time to subvert the dominant paradigm.