NASDAQ-Reuters/Felix Martin/7-8-2022
“Capital allocation has been distorted; investment risk mispriced; pensions systems destabilised; social mobility fossilised; and moderate investors polarised into idle rent-seekers or you-only-live-once speculators. Chancellor makes a compelling and disturbing case that excessively loose financial conditions lie behind them all.”
USAGOLD note: Felix Martin reviews Edward Chancellor’s new book, The Price of Time. “Perhaps,” he says, “you should not just buy this book but sell all your stocks.” He warns that the results in financial markets from the Fed’s modest tightening in 2022 are not encouraging.
