B
BRAD
Guest
I've heard some people actually trying to say that the economy crashed because of "greed." Apparently greed must have been invented around 2002.
Nobody ever talks about the monetary policies of the Federal Reserve. Doesn't it make more logical sense that problems would occur because Greenspan set interest rates as low as 1% and decided to pump large amounts of new money into the economy? Isn't it obvious that providing banks with too much money to lend lead to them making bad loans that inflated a bubble in the housing sector?
Doesn't it make more sense to blame the Federal Reserve for its reckless monetary policies? If the Fed is responsible for causing the crisis by going mad with the printing press, then isn't it very bad news that the Federal Reserve is now planning to create $1.2 trillion in new money in hopes of printing the economy back to prosperity? Furthermore, aren't these fears of deflation unfounded, since hyperdeflation has never occurred in recorded history, yet numerous economies have been destroyed by hyperinflation (the late Roman Empire, Weimar Germany, and modern-day Zimbabwe are 3 examples)?
Nobody ever talks about the monetary policies of the Federal Reserve. Doesn't it make more logical sense that problems would occur because Greenspan set interest rates as low as 1% and decided to pump large amounts of new money into the economy? Isn't it obvious that providing banks with too much money to lend lead to them making bad loans that inflated a bubble in the housing sector?
Doesn't it make more sense to blame the Federal Reserve for its reckless monetary policies? If the Fed is responsible for causing the crisis by going mad with the printing press, then isn't it very bad news that the Federal Reserve is now planning to create $1.2 trillion in new money in hopes of printing the economy back to prosperity? Furthermore, aren't these fears of deflation unfounded, since hyperdeflation has never occurred in recorded history, yet numerous economies have been destroyed by hyperinflation (the late Roman Empire, Weimar Germany, and modern-day Zimbabwe are 3 examples)?