Tuesday, May 1, 2012

Can they learn?

Even a simple argument can get no foothold. Well, I suppose it could be because he's asking these fine folks to walk off their job? But he does a good job to prove...

from start to finish the Fed is a failure
...Keynesians in this room will reply, “But you need demand to buy these products.” And I will reply, “Do you not believe in supply and demand? Do you not believe that products once made will adjust to a market clearing price?”
But it would hurt their brains to answer such a simple question.
...the government attempts much more to prop up the unemployed by extended payments for not working. Is it really a surprise that unemployment is so high when you pay people not to work?
Only to the blind.
I also must scratch my head at the view that the Federal Reserve should maintain a stable price level. What is wrong with having falling prices across the economy, like we now have in the computer sector, the flat screen television sector and the cell phone sector? Why, I ask, do you want stable prices? And, oh by the way, how’s that stable price thing going for you here at the Fed?
Since the start of the Fed, prices have increased at the consumer level by 2,241%
Sounds like a failure to me.
In this very building, deep in the underground vaults, sits billions of dollars of gold, held by the Federal Reserve for foreign governments. The Federal Reserve gives regular tours of these vaults, even to school children. [14] Yet, America’s gold is off limits to seemingly everyone and has never been properly audited. Doesn’t that seem odd to you?
Not at all. Truth would be the oddity.

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