People want to know what caused this crisis, and more importantly, how to fix it. Everything we’ve heard from our leaders in Washington has been wrong, and that is why the market is not responding to the “rescue package” (read: Wall Street bailout) and to the billions of new dollars being pumped into the system. [...]
Mr. Roubini revisits his thesis “The Risk of a Systemic Financial Meltdown: The 12 Steps to Financial Disaster” and explains how all 12 steps have come to fruition. When reading this, I’m struck by something else Mr. Roubini has mentioned numerous times: why has the political and financial leadership not called in economic experts (i.e. [...]
Posted on the Campaign for Liberty blog:
Dear Friends:
The financial meltdown the economists of the Austrian School predicted has arrived.
We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt [...]
So let’s start things off with everyone’s favortite debate-generating topic: politics! Election season is in full swing, and the mainstream media is full of worthless stories detailing the bickering between the two campaigns and the two parties. The buzzword for this election is change, but I don’t see very much of that in the campaigns [...]
