Great Quote on the Fed

From ZeroHedge:


Now if one studies history one finds out that the Federal Reserve was formed to prevent speculative panics, to maintain the value of the dollar, to preserve the purchasing power of the consumer, and to responsibly manage the nations money supply. Has an organization ever strayed as far from accomplishing its goals as the Fed?

-- Walter Zimmerman                 

What comes next?

Tech Bubble --> Market Crash --> Low Rates --> Credit Bubble --> Market Crash --> Low Rates/QE --> ???

The Quote of the Year

From David Stockman:

"I think the Fed is injecting high grade monetary heroin into the financial system of the world and one of these days it's going to kill the patient"