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"I doubt anyone can pinpoint the exact reason for the transformation." I believe I can very much pin-point it. It was the creation of the Federal Reserve. Wh
by carsongross 14y ago
"I doubt anyone can pinpoint the exact reason for the transformation."
I believe I can very much pin-point it. It was the creation of the Federal Reserve.
What we are seeing now is the final stage where everyone with a bit of brains realizes that the way to make money is to attach oneself as closely as possible to the great gushing fiat spigots emerging from the FIRE and government sectors, and malinvestment sits rudely triumphant on the wreck of america's productive economy.
- ScotterC 14y agoPlease elaborate. I don't fully comprehend what you're pointing to.
- kajecounterhack 14y agohttp://ycombinator.com/newsguidelines.html http://ycombinator.com/newsguidelines.html "Please don't bait other users by inviting them to downmod you."
- carsongross 14y agounbaited
- caseydurfee 14y agoYeah, before the Federal Reserve came along, we never had these sorts of problems... http://en.wikipedia.org/wiki/Panic_of_1857 http://en.wikipedia.org/wiki/Panic_of_1857 http://en.wikipedia.org/wiki/Panic_of_1873 http://en.wikipedia.org/wiki/Panic_of_1873 http://en.wikipedia.org/wiki/Panic_of_1893 http://en.wikipedia.org/wiki/Panic_of_1893 http://en.wikipedia.org/wiki/Panic_of_1907 http://en.wikipedia.org/wiki/Panic_of_1907