CNBC *And* Dallas Fed Tell Truth About Fed Liquidity Pumping

Today I found not one, but two, arguments against Fed liquidity pumping in the most unlikely of places: CNBC.com AND--gasp--the Dallas Fed's website!

First, from the floor of the Chicago Mercantile Exchange, a direct benefactor of the Fed's pumping, CNBC's Rick Santelli made the case that the Fed is politicized, and its historic (and unwise) money printing has been a function of political expedience:

 

Second, the Dallas Fed published Bank for International Settlements economist William White's white paper about the unintended consequences of liquidity pumping (.pdf). In the paper, Dr. White made the connection between liquidity pumping and bubbles and crashes, inflation, malinvestment, and zombie companies.

Wow. Let's hope the truth tellers are allowed to continue telling the truth!