QOTD: Druck On Distorted Interest Rates

…today we have settled to allowing the most important price of all, long-term interest rates, to be regularly distorted by public intervention.

…If I were trying to create a deflationary bust, I would do exact exactly what the world’s central bankers have been doing the last six years.

…Of all the interventions by the not-so-invisible hand, not allowing the market to set the hurdle rate for investment is the one I see with the highest costs. Competition is a better tool than price control for protecting consumers. That applies to Amazon and the bond market.  – Stan Druckenmiller, May 3

This entry was posted in Bonds, Budget Deficit, Economics, Interest Rates, Quote of the Day, Uncategorized and tagged , , , . Bookmark the permalink.

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