It is interesting that the Fed is working more to solve the next economic crisis than to end this one.
We are in a deep economic malaise because the Fed officials are constantly trying to implement the policies suggested by Hayek and Keynes for the economy of the UK as it existed eighty years ago instead of those suggested by John Lindauer and the late George Stigler for the econonmy of the US as it exists today.
A explanation of our current economic stagnation and how the Fed can quickly bring us out of it can be found in “Inflation, Unemployment, and Government Deficits” or something similar from a professionally trained macroeconomist.
I wouldn’t say we’re trying Hayek’s ideas now, but we sure are relying on Keynes’ failed policies. Time to end the Fed, or at least get a free market economist to lead it.
Keynes’ policies were applicable to the UK economy as it existed eighty years ago. And his basic idea that employers need to take in more revenues if they are to hire more workers is something every businessman knows.
Where the Fed (and Congress) have gone wrong is thinking that the policies that would have worked for the UK eighty years ago will work for the very different economy of the US today.
Lindauer and Stigler (and you) are right – we don’t need more federal regulations and more federal spending and we don’t need policies that don’t work (target rate fiddles, QE to send dollars overseas) – what we need are the policies Lindauer and Stigler suggest for the US as we exist today: eg flowing the new dollars into the real economy by buying small business loans from the issuing banks, etc. etc. the employers of a growing or recovering economy need more dollars – in the economy, not overseas or financing securities and currencies speculations.
No, not all of these companies received TARP funds. Of interesting note, the companies that did receive TARP funds have paid them back. The same cannot be said of the automotive industry.
Okay, not all, but I know AIG, GM, Chrysler, General Electric Capital, Citigroup, and Wells Fargo got bailouts, most of which were TARP. Apparently it didn’t work out too well for them.
It is interesting that the Fed is working more to solve the next economic crisis than to end this one.
We are in a deep economic malaise because the Fed officials are constantly trying to implement the policies suggested by Hayek and Keynes for the economy of the UK as it existed eighty years ago instead of those suggested by John Lindauer and the late George Stigler for the econonmy of the US as it exists today.
A explanation of our current economic stagnation and how the Fed can quickly bring us out of it can be found in “Inflation, Unemployment, and Government Deficits” or something similar from a professionally trained macroeconomist.
I wouldn’t say we’re trying Hayek’s ideas now, but we sure are relying on Keynes’ failed policies. Time to end the Fed, or at least get a free market economist to lead it.
Keynes’ policies were applicable to the UK economy as it existed eighty years ago. And his basic idea that employers need to take in more revenues if they are to hire more workers is something every businessman knows.
Where the Fed (and Congress) have gone wrong is thinking that the policies that would have worked for the UK eighty years ago will work for the very different economy of the US today.
Lindauer and Stigler (and you) are right – we don’t need more federal regulations and more federal spending and we don’t need policies that don’t work (target rate fiddles, QE to send dollars overseas) – what we need are the policies Lindauer and Stigler suggest for the US as we exist today: eg flowing the new dollars into the real economy by buying small business loans from the issuing banks, etc. etc. the employers of a growing or recovering economy need more dollars – in the economy, not overseas or financing securities and currencies speculations.
WilliamWilliams for President!!!
Didn’t we already bail out several, if not all of these? How’s that working out for ’em?
No, not all of these companies received TARP funds. Of interesting note, the companies that did receive TARP funds have paid them back. The same cannot be said of the automotive industry.
Okay, not all, but I know AIG, GM, Chrysler, General Electric Capital, Citigroup, and Wells Fargo got bailouts, most of which were TARP. Apparently it didn’t work out too well for them.