Does Bernanke Have an Exit Strategy?
Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009. Sponsored by Ron Wilson, and Professional Planning of Easley, LLC.
Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009. Sponsored by Ron Wilson, and Professional Planning of Easley, LLC.
Arriving at those goals is not exactly doable unless government robs Peter to pay Paul and/or starts up the printing press.
Keynes has bamboozled us and it is very difficult to de-bamboozle ourselves.
Contrary to popular thinking, the threat posed to the major economies is not the liquidity trap, but the government and central bank stimulus policies aimed at countering it.
The Fed's present monetary policy appears to be ineffective. Despite massive pumping by the US central bank, commercial bank lending displays sharp declines.
Printing green pieces of paper doesn't make an economy richer. If done without restraint, it leads to runaway price inflation. As an added downside, it also allows governments to slaughter millions of people. (The world wars could not have been waged if the belligerents had stuck to the gold standard.)
Don't be among those who believe that the government has discovered the secret of prosperity in the offices of the Bureau of Engraving and Printing.
Rothbard and a handful of Misesian economists were virtually alone in maintaining that Hoover's interventionist policies were mainly responsible for what we now know as the "Great Depression."
Clearly, one of the top priorities of every libertarian should be ending the legal tender laws.