"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
Me too. Maybe we will all start flying before long.
As to your second point, if I say anything then all the gold bugs and private banking wildcat whackos will jump my butt and get out the long knives. I even went to a conference where one dude said the Fed should be abolished and replaced with a private gold standard. As ever in economics I would only ask...what's the alternative?
Just stumbled across this and it made me think of your question - what's the alternative? I'm not a big gold standard kinda guy, but Lawrence White from George Mason offers a pretty cool alternative to the Fed (and does it in less than five minutes)...
I'm starting to think "quantitative easing" is the Fed's pixie dust. What did you think about Sowell's recent column?
ReplyDeletehttp://townhall.com/columnists/thomassowell/2013/02/05/prophets-and-losses-n1504891
-Bub
Me too. Maybe we will all start flying before long.
ReplyDeleteAs to your second point, if I say anything then all the gold bugs and private banking wildcat whackos will jump my butt and get out the long knives. I even went to a conference where one dude said the Fed should be abolished and replaced with a private gold standard. As ever in economics I would only ask...what's the alternative?
Just stumbled across this and it made me think of your question - what's the alternative? I'm not a big gold standard kinda guy, but Lawrence White from George Mason offers a pretty cool alternative to the Fed (and does it in less than five minutes)...
ReplyDeletehttp://learnliberty.org/videos/should-we-end-fed
-Bub