Free Market Thought: A Quickie

1.22.2008

ThoughtPolice said...: Woa, that was one of the most surprising articles I've read in a long time. It's really sad, too, when you consider how shortsighted our President's proposal is. It's not as if this situation was caused simply by these individuals and families purchasing homes above their means, as the banks and other lending institutions are losing out big time on this one, too. Financial ignorance? I'm not so sure. I'm really curious to see what sweeping educational reforms and ideas for enlightening the public to the wonders of Fractional reserve lending this administration will come up with. Hopefully they don't simply throw money into the markets and cause the hyperinflation that we've seen in post war Germany and other eastern-European countries as well as other cases around the world. Considering the fact that the Fed has taken such hasty action in dropping the interest rates so much in a short period of time, I'd say that's exactly whats happening. According to the majority of economic thought, though, the effects won't be felt for a few months, and this even when we haven't begun to understand the impacts of other recent rate cuts to our fragile economy.
I'll end this rant with...
...shit.; 1/23/2008 12:54 AM

1.22.2008