Smarty_Pants

Confessions of an Austrian Economist

"As for praising Austrian economics, I haven't heard this sort of thing for years, or maybe decades, but one thing is certain. Anyone in my economics or finance classes who gets into my face with that kind of talk would be guaranteed a failing grade." - Fred Banks

No doubt. I would be willing to wager that there isn't a single college level economics textbook in wide use that goes into any sort of detail regarding why the Federal Reserve is the cause of the boom / bust cycle or why creating money from nothing is in reality stealing purchasing power from all pre-existing money holders. The gub'mint accredited college text gatekeepers would never allow such a text to be used. Can't have commoners thinking about such things now, can we?


"What went wrong in the US was the election of the wrong president" - Fred Banks

Ah, I see. So what you are implying is that the trillions of dollars that we created out of thin air were simply spent on the wrong things? It's not the actual creation of the debt, it's who got to spend it. Riiiiight.