"Interventionism is not an economic system, that is, it is not a method which enables people to achieve their aims. It is merely a system of procedures which disturb and eventually destroy the market economy. It hampers production and impairs satisfaction of needs. It does not make people richer; it makes people poorer."
The Obama administration pulled out the old bag of tricks and claimed that they only needed to loot the public of hundreds of billions and spend it on building up government, and then, wow, like magic, the entire economy would come back to life.
No matter how you slice it, the former Maestro spawned housing, commodity, and stock booms with his reckless policies.
When looking for a thorough and logically consistent analysis of broad market forces and the role of the Federal Reserve in promoting an unsustainable boom in long-term production, Tom Woods‘s Meltdown remains the best choice.
