Is this the typical (central) bankers view of the mountain of debt in the world? … of the effect of the mountain of newly printed money? … of Wall Street reaching for the sky?

“Continuing large-scale asset purchases risks placing us in an untenable position, both from the standpoint of unreasonably inflating the stock, bond and other tradable asset markets and from the perspective of complicating the future conduct of monetary policy,” warns the admittedly-hawkish Dallas Fed head.

Fisher goes on “…QE [quantitative easing] puts beer goggles on investors by creating a line of sight where everything looks good …”

Fisher went on the remind his audience of the wisdom of the First Law of Holes espoused in the late ’70s by then-British Chancellor of the Exchequer Denis Healey:

“If you find yourself in a hole, stop digging.”

If you’ve got ten, read the whole speech … link above.