Paul Singer Warns of Social Unrest if Inequality Unaddressed

While Glenview’s Larry Robbins sees value in the US Federal Reserve’s five year zero interest rate policy, Paul Singer, ever the risk manager, is considering how punch drunk the party might have gotten.  The question to be answered is: how angry are party participants going to become when the free punch bowl is replaced by actual market forces.

“By all measures, the U.S. stock market is currently frothy,” Singer proclaims, as he glances with “amazement” at the “Fed’s magic act” of using manipulative policy tools of purchasing debt like a high frequency trader sells...