Fleckenstein: Markets Will Crush Central Bank Actions!

- Fleckenstein – Markets Will Crush Central Bank Actions!
by www.kingworldnews.com
Today Bill Fleckenstein told King World News, “This is the way it always feels until financial gravity takes over again.” Fleckenstein, who is President of Fleckenstein Capital, also said, “… at some point the markets will be bigger than the Fed once again.” Here is what Fleckenstein had to say: “The Fed really is the engine or the driving force behind much of what’s gone wrong in the country in the last 20 years. The equity bubble was a disaster, and then the real estate bubble was an even bigger disaster. But it’s not just those two events and their consequences.”
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“We had about a 15 to 20 year period where people lived beyond their means and didn’t really bother to save or worry about the future. You see the impact now at the cities, counties, and states, where they are going bankrupt or they are finally admitting they can’t meet their promises. As a country, and on the national level, we’ve got this monstrous debt that we’ve rolled up, and we’re going to have to deal with that sometime in the near future….
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