By Tyler Durden | 23 October 2018
ZERO HEDGE — While we have grown used to Alan Greenspan’s flexible world views appearing regularly among US media channels, when former Fed Chair Paul Volcker speaks, it’s low frequency nature tends to make on pay attention, and he is not optimistic about the state of the world … at all.
As ‘Tall Paul’ prepares to publish his memoir (ironically titled — given the current state of the world — “The Quest For Sound Money & Good Government”), he sat down with NYTimes’ Dealbook’s Andrew Ross Sorkin and was not shy about how he sees the world and where it’s going. […]
… Finally, Volcker returned to a bigger picture concern about America:
“The central issue is we’re developing into a plutocracy,” he told me.
“We’ve got an enormous number of enormously rich people that have convinced themselves that they’re rich because they’re smart and constructive. And they don’t like government, and they don’t like to pay taxes.”