Mike Maloney tells Fed chair Ben Bernanke to ‘close up shop’ and go home
Welcome to Capital Account. The FOMC’s two day meeting starts today and the ECB will meet later this week amid heightened expectations that the central banks are moving toward direct action. But according to the Wall Street Journal, there are lingering doubts as to whether central banks even have the tools to fix the economic problems their countries face. A lot of the money the Fed has tried to pump into the economy has wound up right back at the Fed. We will talk to Mike Maloney about what the Fed's actions mean for the lives of average people.
And Bill Gross, co-founder of PIMCO, wrote that the cult of equity may be dying. However, the cult of inflation may have only just begun. We will talk to Mike Maloney, founder of GoldSilver.com, about it.
Also, US home prices rose in May for the fourth month in a row, according to the S&P’s Case-Shiller data out today. We will talk to Mike Maloney, author of the "Guide to Investing in Gold and Silver,” and see how this fits in with other data pointing to another slowdown in the US economy.