The Mess That Greenspan Leaves
New article by me on the Ludwig von Mises Institute web page.
posted by stefankarlsson at 9:37 PM
Monday, December 26, 2005
About Me
- Name: stefankarlsson
- Location: Sweden
I am an economist currently working in Sweden. I am an independent thinker, but generally lean toward the Austrian school of economics. I have written for free market think tanks and web sites such as Timbro, Captus , Ludwig von Mises Institute, The European Enterprise Institute and Der Invest Informant.
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6 Comments:
Hallo, I'm an italian libertarian and I have a blog. I've read your Daily Article on the Mises Institute site and wanted to link, quote and comment massively.
Unfortunately, you may not be able to read what I write because of the language (my blog is in italian), but I agree with the article and it seems to me simple and convincing even for non-economists (at least for the idea of moral hazards, not for ABC-T insights).
Can I quote & comment all out? (I'll obviously link mises.org and your blog, too).
Excellent piece! Could I respost it on my Blog?
Excellent piece!
Good Article. Keep up the good writing!
Very good article.
The consequences of this have been great. Instead of falling as a result of increased production, the consumer price index rose nearly 74% between August 1987 and November 2005, an average annual increase of 3.1%. This, together with the even greater asset price increases means that the purchasing power of the dollar has been sharply reduced, something which in turn has constituted large scale "confiscations of wealth," as the 1966 Alan Greenspan described inflation.
The "confiscation of wealth" really took off in 1913 when the FED was born.
Check out this graph on my blog that really says it all:
http://www.mrderrick.com/blog/?p=30
or just view the graph at:
http://www.mrderrick.com/blog/images/fed_and_the_cpi.gif
Thanks again for the insightful article.
I wonder if it wouldn't be possible to charge Greenspan with crimes against humanity in some global legal forum. Because the truth is that this man is a criminal, has acted like a criminal, and in a just world should be hunted down and treated like one. He has driven millions into a poverty welfare state, and defrauded millions more into debt slavery (or at least aided and abetted it). And shortly, when the US economy "adjusts", (as he so fondly calls it) it will likely throw the world into financial chaos and is plausible that the starvation of millions will follow. So please tell me how this man is any better than any other bloody genocidal murderous war criminal.
With all this, one would think that he would at least have the decency to minimize the damage and warn people that they should collect precious metals to protect their lives from permanent financial ruin, but no, rather he tries to butter up his legacy at bankers conferences and deflect responsibility for his crimes to the US congress, as if their negligence makes him any less a criminal.
The bottom line is that if we want to save our children and grandchildren from future "adjustments" and future financial ruin, we simply must de-fang this beast for once and for all monetary eternity and bring justice to those who perpetrate fraudulent money.
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