1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar
Source link: http://archive.mises.org/10966/motley-fool-calls-out-the-fed/

Motley Fool Calls out the Fed

November 3, 2009 by

I have always liked the content found at The Motley Fool but today’s headline really made my day.

The Daily Walk of Shame: The Fed

“Much of the blame for our economic crisis can be pinned on the monetary policies. Even worse, the “cure” for an ailing economy always seems strikingly similar to what caused the problems to begin with, at least according to the Fed. That means our problems aren’t over by a long shot.”

Read the rest of the article (it is worth it!)

Reblog this post [with Zemanta]

{ 6 comments }

lester November 3, 2009 at 4:50 pm

slightly OT here

http://bit.ly/4dcz2Q

does anyone know this mike norman cat? he is like the anti austrian

Nate Y November 3, 2009 at 5:34 pm

lester,

Yeah Mike Norman is a toolshed. He’s featured on the popular “Peter Schiff was Right” youtube vid making a complete fool of himself. Now, it wouldn’t be so bad if he was merely mistaken in his analysis. But he was extremely condescending and (shockingly) remains so. The man has an ego the size of Texas and absoluetly no shame. I’ve seen Tom Woods take this kind of behavior to task. The people who were consistently and completely wrong in their analysis should at least have the modesty to admit their errors and listen to those who were proven correct (Austrians).

Bogart November 3, 2009 at 6:06 pm

I hate to be un-cool but I have to point out these things that continue to annoy me:
1. Inflation is not a rise in prices, rising prices are symptoms of previous inflation. The central bank created boat loads of inflation, the rest of the economy does not want the money. If the economy decides it does then we will see the rising prices, keep in mind that in Japan this process has been going on for 20 years.
It is all good for currency traders who can take loans out from the USA to buy bonds from other governments giving them a tiny gain plus inflation eating away at the money.
2. The stimulus bills do not get the economy rolling. They steal wealth from wealth generators and give it to wealth destroyers. The best example of this is WW2, factories were pumping out war materials but the citizenry lived in a command economy where everything was rationed. Look at GM it received 70Bill when it was worth -200 billion.

Martin OB November 3, 2009 at 6:16 pm

Oh, yeah, Mike what-artificial-lending-standard-are-you-talking-about Norman :D

http://www.youtube.com/watch?v=I9087euswWo&feature=related

Ohhh Henry November 3, 2009 at 8:42 pm

“Even worse, the “cure” for an ailing economy always seems strikingly similar to what caused the problems to begin with, at least according to the Fed.”

No freeking kidding.

I found this today, it’s from Barrons:

… Bernanke concedes that the banking sector is far from saved at this point: Worsening growth prospects, continued credit losses and markdowns will keep pressure on the capital and balance sheets of financial institutions

“More capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets,” says the Fed chief.

In other news, Michael Jackson’s doctor conceded that the pop star was suffering severe cardiac and pulmonary arrest, and stated that more injections of sedative, painkillers and antidepressants may become necessary to ensure the stability and normalization of Mr. Jackson’s vital signs.

David November 3, 2009 at 9:16 pm

Very cool. Alyce Lomax is a friend and very supportive of Libertarians and Ron Paul supporters.

Comments on this entry are closed.

Previous post:

Next post: