I have always said that if Federal Reserve heads were held to the same standards as were doctors, malpractice claims would have made headlines during the recent financial meltdown.
Much of the responsibility of the financial mess, in addition to that of the Congressional liberal handouts of Fannie Mae and Freddie Mac largess, rests with the easy-money policy of the Fed. Congress wanted everyone in America to have a home of their own, whether they could afford one or not. The Federal Reserve made money available.
The Federal Reserve thus created the world-wide bubble by continuing its easy money dogma.
Easy money policy today is certainly not helping a recovery of this country’s Industry, particularly small business. But it’s developing the next bubble and collapse right now. And assuring future super-inflation.
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