Druckenmiller is a legend in financial investment, and he has something to say:
http://finance.yahoo.com/news/automatic-spending-cuts-joke-druckenmiller-141106106.html;_ylt=AskqRTXvX3kZdeqXPYnc4iqiuYdG;_ylu=X3oDMTQ4NjZxNDh0BG1pdANDTkJDIFRvcCBTdG9yaWVzBHBrZwM2Yjk2OGI3Mi01NjVjLTNjODQtYTk3MS0zNTYzN2E5MGQ4ZGEEcG9zAzQEc2VjA01lZGlhQkxpc3RNaXhlZExQQ0FUZW1wBHZlcgM0ODM4NDNmYS03ZDBkLTExZTItYWU3Zi1kZTU1YjA2MzIxMzA-;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
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They say the main job of Central Bank/Federal Reserve is to keep price levels stable.
Wrong!
The main job of a central bank is to keep price levels stable WITHOUT causing financial disasters, income reduction, unemployment and/or bankruptcies.
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