Brian27

Fed Is Likely to Make Money from Its Bank Buyouts

Government administered prices? This policy has failed every time it has been tried starting with FDR’s completely disastrous 1933 Industrial Recovery Act that extended the Great Depression and Nixon’s wage and price control policy.

Let’s substitute the collective judgment of hundreds of millions of Americans for a bureaucrat in the setting of prices. And what happens when the bureaucrat makes a mistake or foreign markets disagree with the set prices? How is the government going to stem domestic and foreign capital flows that are going to take advantage of mistakes and force changes in prices?

On matching assets and liabilities wouldn’t it be sensible if the government actually matched social security liabilities with assets? Even a couple of dollars worth.