Jim Grant Warns: Cost Of "The Unmasking Of The [Fed-Driven] Mis-Allocation Of Capital" Is Dire

“The Fed is ‘ever-interested’ in doing something later,” Jim Grant notes, explaining why he believes the timetable for rate hikes will be pushed back further as fear of allowing a free market in the “most critical” of prices – that of interest rates – would lead to the “unmasking of the misallocations of capital that will have come about through the levitation of asset prices.” Grant further unleashes his verbal attack of truthiness when he points out that the central bank’s persistent easy money policies is on display currently in the form of stifling American enterprise and sending millions of people from the workforce “more or less permanently.”

Jim Grant ‘unedited’…  

“If companies can’t fail that means somebody else can’t start. You’re looking at a petrified forest rather than dynamic capitalism,

Behold “The fruit of heavy-handed government manipulation… no matter what ‘famous-blogger’ Ben Bernanke says”


Reprinted with permission from Zero Hedge.

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