Posted by
heresyarch's Contra Mundum on Monday, August 11, 2008 1:26:42 PM
This is cental planning at its worst. Review their track record:
March of 2007: "All the signs I look at" show "'the housing market is at or near the
bottom," Paulson said in a speech to a business group in New York,
adding that the U.S. economy is "very healthy" and "robust." - Treasury Secretary Henry Paulson
At about the same time last March 2007, Ben Bernanke, Chairman of the
Board of Governors of the Federal Reserve, told Congress, "At this
juncture, the impact on the broader economy and financial markets of
the problems in the sub-prime market seems likely to be contained."
Read the whole thing:
What Banks and the Government Are Not Telling Us About 2009
These boobs are in charge of "managing" the US national economy? This is neocons defending the undefendable: that we need a federal reserve to manage our nation's comlex economy, and that a free market approach will not work. More and more I am convinced a free market approach based on sound money would work much better and bring much more prosperity, protecting unethical greedy bankers and financial institutions from creating economies of mal-investment and looting (fleecing) the taxpayer for their mistakes.
How can anyone make any rational investment decisions because of the Federal Reserve meddling? Hmm neocons?