The Credit Bubble: More Than 20 Years in the Making

(ASIA TIMES) — In October 1987, Alan Greenspan sold the Federal Reserve’s soul to Wall Street and unfettered credit creation. The bills for the subsequent bubble-related distortions are now falling due — and the Fed’s credibility is in tatters. The Fed has climbed way out on a limb, and it is difficult at this point to see how it can regain credibility as an inflation fighter or supporter of the value of our currency. Full Report