In the old normal when we had an honest Fed, under Volcker, David Stockman explains, the market could judge what Congress and the White House was doing and decide where the risk/reward equation was and how to price the bond, the note, the bills, but in the new normal, today, the market is entirely rigged.
You have both parties deeply entrenched and beholding to the military complex and we're spending billions more for defense each year.
So the only honesty to be had will be in raising taxes.
The revolution will come when you tell the middle class they're not going to get a tax cut - that they're going to pay more, not less.
Then they will finally wake up.
Then they will march on Washington and demand that we do something about the giant programs that are currently in place and growing because everybody thinks the Fed will take care of the debt.
On Europe's Crisis: