A “Hinge Point” In History Approaches

The End of The “Greenspan Put”

Inside today’s Daily Journal…

• Essay: A “Hinge Point” In History Approaches

• Manufacturing heats up

• Unemployment is lasting longer

• Nvidia walks back OpenAI investment

• Chart Of The Day: Bitcoin

• Today’s Mailbag

Kevin Warsh resigned from the Federal Reserve in 2011.

At the time, he was in open rebellion against the central bank’s decision to continue expanding its balance sheet. The Fed’s decision to proceed with quantitative easing (“QE”) would have profound impacts on our markets, our society, and the government’s role in our lives.

In three months, Kevin Warsh will return to the Fed – this time as its chairman. His mandate is to restore the market’s natural function. He is determined to bring back capitalism to America and to stop the never-ending encroachment of the government into every aspect of life.

Recently, in public remarks, Warsh stated clearly that we sit at a critical juncture, a “hinge point in history,” he calls it. He believes we must act to restrain the power of the government and restore the centrality of the free market in society.