Easy Money and the Decapitalization of America.

The article reports on the impact of economic bubbles on capital stock in the U.S. It notes that the expansionary Federal Reserve monetary policies pursued since the onset of the financial crisis have produce three new economic bubbles, namely, financial stocks, government securities, and junk bonds. It indicates that the low interest rates are decapitalizing the country's economy, with damaging long-term implications for its resident's standards of living. Further, it stresses that low interest rates lead to low saving and capital decline in the long term.