#990 The State of the 2022 Economy
The Pomp Podcast
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What Happened to the Federal Reserve?
Central bankers created trillions of dollars, and we stuffed it into every exotic corner of financial system. The thought process was among the central bankers and politicians that we don't get paid for solving long term problems. They said, we are going to optimize to mitigate short term pain, and no matter what happens over the long term, we'll deal with that later. And so what you end up seeing is, last year in 20 21, the stock market was up 30%, real estate prices in america, for homes, was up about 20 %. Biquin was up 65%. These are all massive numbers, all lots and lots of appreciation.
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