[P]rinting more money weakens wealth generators' ability to grow the economy whilst a decline in the money supply's rate of growth strengthens their ability to grow the economy.
Once the central bank raises the pace of money expansion in order to lift the economy out of a recession, it prevents the demise of various false activities. It also gives rise to new false activities. The outcome of such so-called economic growth is nothing more than the strengthening of wealth consumers and renewed pressure on wealth generators. All this undermines the process of wealth generation and weakens true economic growth.
The Fed's attempts to incentivize Wall Street and the banks are having a deleterious effect on Main Street and the productive sectors.
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