The Fed is supposed to manipulate the economy within certain limits.
Mostly to anticipate the size of the money supply required to match
economic activity, to smooth out peeks and troughs due to natural
variations. Money acts as a lubricant in an economy, and just as with
an engine the wrong amount of oil will ruin it . The fact that The Fed
has proven to be utterly incompetent at it's task, about 3/4 of the time
and the Obama administration has chosen them to implement policies well
beyond it's original scope, (which did I mention it is often incompetent
at), just scares the bejesus out of me. The current Fed Chairman
isn't Milton Freedman, he isn't Paul Volcker, he isn't even Allen
Greenspan, at least Greenspan had some idea that something was going
wrong...
On 11/15/2010 10:38 PM, Daniel J. Matyola wrote:
The point of manipulating the economy is not whether what is done is
good or bad; the point is to manipulate the economy.
Dan
On Mon, Nov 15, 2010 at 10:30 PM, P. J. Alling
<[email protected]> wrote:
I've seen it. The only problem I have with it is that they seem to think
that deflation is good. It isn't any better for the economy than massive
inflation, just bad in a different way.
On 11/15/2010 10:30 PM, Daniel J. Matyola wrote:
http://www.youtube.com/watch?v=PTUY16CkS-k&feature=player_embedded
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