I feel confident in claiming that the housing boom would not have occurred if money and banking had been left in the hands of the private sector, as opposed to the state-organized cartel that we currently "enjoy."
Inclined to Liberty is an important confidence booster for people involved in commerce, providing answers to their colleagues who criticize freedom, and pointing to other resources.
We should not be afraid of deflation. We should love it as much as our liberties.
Obama's public-private partnerships would become extinct and despised, being recognized for what they are: back-door socialism, making a mockery of true partnerships and freedom. Entrepreneurship and innovation would be free to flourish in such an environment.
What is amazing about America circa 2008 is not the citizens' money illusion — history has seen that aplenty — but the utter lack of resistance to it.
Today government is even more arrogant and absurd, and it actually believes that by passing legislation it can save the US car industry.
If we are really sincere about not wanting to repeat the 1930s, the political classes should do nothing but cut taxes and free the labor market — but otherwise do nothing to "help" the problem.
Folsom places great emphasis on Roosevelt's character, and the president comes off very poorly indeed.
We have a unique opportunity to provide future stability for our banking system. Sadly, it is an opportunity that will almost assuredly pass us by.
Bernanke and company are making matters worse by endlessly inflating and bailing out dysfunctional firms. The result will be more unemployment, not less.
