Jeremy Grantham: “We Have Been Conned”

Wednesday, May 8, 2013
By Paul Martin

by Tyler Durden
ZeroHedge.com
05/07/2013

The lessons of Jeremy Grantham’s recent interview with Charlie Rose seem to be becoming increasingly prescient as the stock market surges to new highs amid a crumbling macro (and micro) economy. “Bernanke is whipping the economic donkey that can only grow at 1-2% as if it was a race horse growing above 3%,” and unfortunately he will keep doing it “until the donkey is dead.” As Grantham says, it is a “very dangerous situation to have the most powerful man in the world,” doing this as simply put, the Fed, “does not have the tools to generate employment.” But while Grantham’s clarity on Bernanke’s actions are unquestionable in their endgame, his views (below) on Keynes, debt, and wealth transfer are even more concerning. “We had this amazing experiment… but we have been conned into believing by the financial world that debt is everything.”

The Rest…HERE

Leave a Reply

Support Revolution Radio