EVERYTHING WE USE........cars, gasoline, corn, wheat, soybeans, stocks, bonds, real estate, labor, machinery, electronics, water, coal, lumber, clothing, eduation, health care....EVERYTHING.... has its PRICE set in an OPEN MARKET. Bids / Offers HOWEVER... There is ONE thing which is NOT determined by open auction, but rather determined by a small, secretive & powerful group of FALLIBLE men. And that thing is..... INTEREST RATES. The price of money. Until the price of money is set in the OPEN MARKET, we will have two things: #1 -- BOOMS #2 -- BUSTS And if you don't like either one, don't complain about it. Until we ABOLISH the central bank or establish another mechanism for money creation, we will continue down this road. I trade futures both ways, so I can handle the outcomes. BUT IT'S A G*DDAMN SHAME WHAT'S HAPPENED TO OUR REPUBLIC. If only the "public" was more knowledgeable about MONEY & ECONOMICS.... --H
Austrian will never get anywhere. You live only out of the critics of the FED. Thats right.....the only thing you got right is monetary policy and the use of macroeconomics. Everything, including your deflation stuff ...................is USELESS.
Every major school is based of one argument: Classical: Technological change Keynesian: Expectations Monetarist: Money Supply (Fed) No ideology is perfect, its a matter of choosing the best. IMO control of interest rates = money supply consequently creates booms and busts = cause of recession today
Also, getting monetary policy is a significant aspect of the economy: 1) Fiscal policy 2) Monetary policy That's 50%