The Fed Is Monetizing Debt Again – David Einhorn
David Einhorn is een Amerikaanse investeerder en hedgefund manager, met een kritische instelling ten aanzien van de manoeuvres van de Fed en Centrale banken.
It was back in 2012 that famed contrarian and value investing hedge fund icon, David Einhorn, first took aim at the pinnacle of market manipulation when he slammed the Fed for creating the ultimate toxic cocktail: something he called the Jelly Donut Policy. As the Greenlight founder wrote in May 2012, the Fed is “presently force-feeding us what seems like the 36th Jelly Donut of easy money and wondering why it isn’t giving us energy or making us feel better. Instead of a robust recovery, the economy continues to be sluggish.”
Publicatie 1 november
Ryan: David welcome to the podcast.
David: Hi Ryan. Thanks for having me.
Ryan: Well, it’s great to have you here. Really appreciate you coming on. First off, I wanted to explain a little bit to the audience of why we have you here, and when I decided to launch this podcast, I was trying to think of a great name that captured the subject of the show everything related to macro and monetary policy and I immediately thought about your article. So, going back to 2012 you wrote an article called The Fed’s Jelly Donut Policy in The Huffington Post and used a story about The Simpsons to explain a long periods of QE and zero interest rates may actually be harmful to the real economy. And it turns out a lot of what you said, they’re panned out inefficient allocation of Capital stock Buybacks with no urgency for corporations to invest to reach for yield from all investors, especially to Retirees so a lot has happened since then take us back to the feedback you got from the article and if your views have changed since.
David: Well honestly, I think the best feedback I got from the article is somebody’s naming their podcast after it. How can how can you beat that? And I’m honored to be here for the first one of these and I expect after I speak today, you’ll probably get all kinds of feedback and I will hopefully learn from listening to the feedback you get because I’m not a trained Economist. I’m not a macro-economist, I’ve never worked in the plumbing of the fed or any of these things. I’m basically an equity Market investor, and I think I have a few observations on some of these things from time to time, but I don’t profess to be a technical expert in all the mechanics of everything.
Het vervolg van de transcriptie van deze podcast kunt u hier vinden.