 ...the Fed should stay cautious about raising interest rates. It's not just that the recovery remains fragile; the entire global economy remains fragile. This is not a good time for experiments just to appease inflation hawks. Were "the global economy" a collection of free market economies that used sound money, there would be no such thing as "fragile recoveries".
There would be no general booms and busts to be concerned about at all. Sure localized investment errors would still occur, but they would be localized, and could not cause the "systemic" crisis that all believers in the current system seem to fear like the plague. There would be no price-fixing of interest rates, or arbitrary creations of currency. There would be no mass illusions of prosperity, followed by very real mass economic pain. That is what 100+ years of central banking has given us - a sickening roller-coaster ride that never seems to end. While Kevin Drum worries about The Fed "experimenting" with higher interest rates, one must wonder if knows that the entire monetary system is a grand experiment itself. This experiment has been imposed on an unsuspecting public by the mad scientist elites, and it treats the rest of us as if we were lab rats. Sadly, this experiment is conducted on a worldwide scale. Politicians and bankers around the globe have legislated away sound money. They may have succeeded in pushing sound money away from public consciousness, but they have totally failed in delivering on their promises. Economic law, and economic reality cannot be legislated away. Unlike Kevin Drum, we shouldn't be worrying about central bankers raising or lowering interest rates. Central planning can't work. The Soviets proved that. We should be worried that an institution has such a power to begin with. Not only should we be worried, we should be vehemently calling for an end to this failed experiment. We are not lab rats. Enough is enough! Comments are closed.
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