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Tag Archives: easy money

After 100 Years Of Failure, It’s Time To End The Fed!

Indeed. End the Fed.

Sounds so radical doesn’t it? Isn’t the Federal Reserve there to smooth out the economy, to stabilize the currency? To make sure the world doesn’t blow up?

What if I told you that it doesn’t smooth out the business cycle, but exacerbates it. That the dollar has lost 95% of its value since the establishment of the Federal Reserve. And that the world has “blown up” multiple times under the Fed regime? The world is worse for having the Fed in it.

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“Housing Bubble 2.0″ – Same As “Housing Bubble 1.0″; Just Different Actors

The first real percolation in the housing industry in the USA, post first bubble, was in Washington DC and New York City. Why? Because that is where the Federal Reserve spigots are. Newly printed money flowed through the system to government contractors and bankers first. Manhattan and DC real estate barely saw the recession, the crony capitalists did quite well over the last 5 years.

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Revolutionary France’s Road to Hyperinflation (Think it can’t happen here?)

The political and banking classes both demand easy money right now. (They always want it.) Print more and more money and the world will continue on as it has (limping that is) for the past 5 years. This is the “new normal.” Sure it’s corrupt, sure it’s counterfeiting, sure it encourages unsound economic and political decisions, but hey we need to do what we need to do.

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Tis the Season for Gratuitous Consumption

Recently I wrote a piece entitled Boycott Back Friday. Generally it was well received. Being fans of capitalism and the voluntary exchange of goods and services we made the point that it was entirely reasonable to opt out of the buying frenzy from a pro-market perspective. To value time (time is money) with one’s family and more than standing in line to buy things is the very essence of what a free market is all about.

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Sorry Greenspan, but you own the housing bubble

Sure the Community Reinvestment Act (a totally crony law) had something to do with housing’s abrupt rise and fall in this country. And there were other factors besides Fed policy. But the primary reason why the global housing bubble, and before that the tech bubble, blew up and then collapsed is because of the easy money policies of one Alan Greenspan.

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