...it's nonetheless quite funny to see the Federal Reserve abandoning its faith in markets in order to prime the pump like good old-fashioned Keynesians.The Fed! Faith in markets! The Fed was explicitly founded as a way for uncompetitive businessmen to get round markets. And that's what is continues to do today.There's nothing quite like having faith in your principles - eh, lads?
A libertarian returns to Scotland
"Freedom and Whisky gang thegither"
- Robert Burns
Saturday 11 August 2007
The Fed: nothing to do with "markets"
I always enjoy reading Martin's stuff, even though I don't agree with everything he has to say. But I had a good laugh this morning when I read this piece:
Subscribe to:
Post Comments (Atom)
1 comment:
Comments made on previous template:
dearieme
The Fed brought us the Great Depression, with help from Congress, Hoover and FDR. Pewrhaps this time it'll bring us Weimar.
12 August 2007, 15:06:59 GMT+01:00
– Like – Reply
James Higham
The real purpose of the Fed is dealt with here:
http://nourishingobscurity.blogspot.com/2007/03/jeckyl-island-one-tuesday-evening-in.html
... and continues on here:
http://nourishingobscurity.blogspot.com/2007/08/crunch-cat-toying-with-mice.html
The Fed or at least the New York Morgan branch, is an abomination and has been since its inception.
12 August 2007, 08:07:06 GMT+01:00
Post a Comment