Booms and Busts

An interesting case of the failure of micro-central planning comes from Shaliuhe, China,

If history is any judge, financial meltdowns like what's happening in the subprime arena prompt the Federal Reserve to act in the only way it knows how. The Fed's playbook was written with its inception in 1913 and anointed by easy money cranks like Alan Greenspan and his successor in crime Ben Bernanke along the way.

You don't have to be a rocket scientist to solve these problems. We need to return to the sound monetary policy of the gold standard and an America where education and assistance to the needy are in the hands of the private sector, not government bureaucrats.

Our fiscal problems can be explained by an Internal Revenue Service that isn’t aggressive enough.

This article from the Atlanta Journal-Constitutio

Presented to the Auburn University Libertarians; Auburn, Alabama, on 17 February 2007.

Bloomberg quotes me here.

I am in Bhopal, visiting India after almost three years.

Unfortunately, this first essay failed to shine any light in the darkness because he is using advanced mathematics — econometrics — in an attempt to explain human beings.

He has chosen the wrong tool for the job.

Friedman maintained that the policies of the Great Depression were a failure because they were not based on his own interventionist proposals: to inflate and undermine property contracts. From this perspective, the state failed not because it didn't "let the market work" but because it didn't let the Chicago bureaucrats work.