re: The "Everything Bubble" that the Fed (and other central banks) have created

quote:

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Our print-on-demand monetary system is the wellspring of the current crisis.

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I'm not disagreeing, but this all started much earlier than Bernanke/Yellen/Powell's wholesale debt monetization (or Quantitative easing if you prefer euphemisms). We started down this rabbit hole not long after the Federal Reserve was formed in 1913. They established a debt/money system that requires exponential growth to pay the true rate of interest (not some arbitrary rate set by a grand council of financial wizards). Cheap, plentiful oil, technology and population growth propped it up for a long time, but there's no such thing as endless exponential growth in a closed system. We've reached the end game where the only recourse is to force money supply growth to race away from the underlying production.