David Stockman on central banks making the rich richer: “Sooner or later it will cause a huge political reaction.” (Video)

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A world economy driven by the Federal Reserve and other central banks (such as we have now) benefits those who already have assets. The reason economic inequality continues to get greater and greater is because the already rich are in on the central bank casino. If one is rich and connected even better.

The problem is not capitalism as David Stockman points out in the attached video, it is the central planners in the Eccles Building in Washington DC. We have an economic system which fundamentally is not based on real prices. It’s a Fed created dream.

Capitalism is the voluntary exchange of goods and services. How is such a system to work if the most important “prices” in the marketplace, interest rates, do not reflect reality?

The central planners in DC (and around the world) have created a brewing societal disaster.