The Fed

By 2004 and 2005, he gave speeches exhorting Americans to buy adjustable-rate, interest-only and negative-amortizing mortgages.

"Zimbabwe's lush soil is the envy of all of Africa. The country is said to hold 80 percent of the world's platinum deposits and huge reserves of natural gas. And along with its rich natural resources, the Zimbabwean population boasts a literacy rate exceeding 90 percent. So what happened?"

Recorded from The Mises Circle in Phoenix, Arizona, April 10th, 2010. Sponsored by James M. Rodney.

Recorded from The Mises Circle in Phoenix, Arizona, April 10th, 2010. Sponsored by James M. Rodney.

Recorded from The Mises Circle in Phoenix, Arizona, April 10th, 2010. Sponsored by James M. Rodney.

Recorded from The Mises Circle in Phoenix, Arizona, April 10th, 2010. Sponsored by James M. Rodney.

So no matter what GDP numbers the Commerce Department spins out, the interest rate Chairman Bernanke controls will stay low "for an extended period."

"Yes, this is the mercantilist world of Paul Krugman. Peaceful private exchange is an act of aggression, and aggression will deliver us from an imaginary 'liquidity trap.' Indeed, war is peace, freedom is slavery, and ignorance is strength."

Printing up money and lowering the value of all dollar-denominated assets while simultaneously benefiting political friends and accomplices is sure

These are the people who said that there was no housing bubble, that there was no danger of financial crisis, and then that a financial crisis would not impact the real economy. These are the same people who said they needed a multitrillion dollar bailout of the financial industry, or we would get severe trouble in the economy.