“When the Fed is the bartender, everybody drinks until they fall down.”
--Paul McCulley, former managing director, PIMCO
I couldn’t resist using this quote today, as the Fed reaffirmed its intent to keep interest rates at rock-bottom levels. The cheaper the money, the more the value of money becomes cheapened. The Fed knows this, but judging by its actions, it doesn’t seem too concerned. Just like alcohol, the power to manipulate the monetary system leaves one drunk with power.
Wisdom about money, investing and life can be found anywhere. If you have a good quote you’d like me to share with your fellow Alert readers, send it to me, along with any comments, questions and suggestions that you have about my radio show, newsletters, seminars or anything else.