Decades of Fed easy-money and serial bailouts since Greenspan (the 90s productivity-driven low rates, the dot-com bubble, the cheerled housing bubble, then repeated QE) prevented normal recessionary consequences, so Congress never learned discipline, enabling the $36 trillion debt and a massive wealth bifurcation that is not capitalism but a product of central-bank meddling.
causalpending
Speaker
Bill FleckensteinEvidence Quote
“what they've allowed is enormous cankicking on the part of the Congress... we haven't had the normal downside of things you would see um in a recession because the recessions have been caught... the Fed rode to the rescue. So he kept postponing”
Source
Bill Fleckenstein: We've Gone Past The Point Of No Return, Only An Epic Crisis Can Fix— The Julia La Roche ShowCreated: 6/18/2026, 1:58:45 PM
My Notes
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