Stan Druckenmiller thinks that today looks a lot like 2004.
The similarity is that Fed Policy is too easy. We have had problems in the past when we had unnecessarily easy money policy.
Druckenmiller says he didn't know how the 2004 situation would end, but he suspected badly. He was right, as the housing bubble popped and caused a financial market disaster.
In the video below we get a rare treat: 42 minutes of Druckenmiller.
