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It was only about 10 years ago that we understood how to allow the economy to create jobs and operate properly: keeping a steady monetary base, cutting taxes, l
by skylan_q 15y ago
It was only about 10 years ago that we understood how to allow the economy to create jobs and operate properly: keeping a steady monetary base, cutting taxes, loosening regulation and ending wasteful gov't programs that crowd out private investment.
It's a shame that 1921 and the post-war boom have been buried under theories that tow the line for the managerial-state.
- skylan_q 15y agoJust for clarification, this isn't trolling. It's true. In the last few years we've blamed the free market for these problems. I don't consider the federal reserve (a monopolist on money) to be a free-market institution. I don't consider government-guaranteed mortgages to be a free market program. I don't think forcing banks to give loans to people unworthy of credit is how a market should operate. But with all that meddling causing the current crisis, we look for yet more government involvement to solve the problem. I look at history and theory and see that the injection of government involvement throughout the economy doesn't work. Ask the people who tried to hop over the Berlin wall!
- xsmasher 15y agoIt sounds like you're blaming the Community Reinvestment Act for the mortgage crisis. The downvoters probably consider that a GOP talking point with no basis in reality. I know I do, but I'll reply instead of downvoting.