The Fed is best understood as the arsonist and the fireman simultaneously—it creates the bubbles through easy money, then gets viewed as the rescuer when they burst, never being penalized for having caused the fires in the first place (e.g. failing to regulate money-center banks before 2008 while cheering real estate).
causalpending
Speaker
Bill FleckensteinEvidence Quote
“every time the Fed was about to be in the in the penalty box for their prior policies, something else happened, right?”
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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