When the stock market crashes and recession returns, many will blame the #Fed for having raised rates too much. But the mistake was lowering rates in the first place, and leaving them so low for so long. Quitting heroine is not the problem. The mistake is taking up the habit.

When the stock market crashes and recession returns, many will blame the #Fed for having raised rates too much. But the mistake was lowering rates in the first place, and leaving them so low for so long. Quitting heroine is not the problem. The mistake is taking up the habit.

— Peter Schiff (@PeterSchiff) February 2, 2018