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Washington’s Blog I noted in 2008: The powers-that-be have used the “Shock Doctrine” to pass anti-American, fascist legislation while the public was in a state of shock. This applies to economic shocks, as well as physical attacks like 9/11. Indeed, right now, Paulson and Bernanke are using the shock doctrine to try to ram through legislation that would help out the fat cats at the expense of [...] What’s next after QE2? That question will be on everyone’s mind when the Fed’s two-day meeting ends Wednesday and Ben Bernanke holds his second-ever press conference. What the Fed should do is “raise interest rates and start to reduce excess reserves,” says Carnegie Mellon professor, American Enterprise Institute visiting scholar and Fed historian Allan Meltzer. Unlike Fed chairman Ben Bernanke, Meltzer believes inflation pressures are rising, citing [...] by ZH On Friday, free and efficient market champion Ted Kaufman, previously known for his stern crusade to rid the world of the HFT scourge, and all other market irregularities which unfortunately will stay with us until the next major market crash (and until the disbanding of the SEC following the terminal realization of its corrupt and utter worthlessness), held a hearing on the impact of [...] From Allan Meltzer at the Wall Street Journal Would the late Milton Friedman have endorsed the Federal Reserve’s plan to make large-scale purchases of long-term Treasury bonds? The idea here is to pump more money into and thus jump-start the economy, reducing unemployment. Some people, including this newspaper’s David Wessel in a column last week, believe the great Nobel laureate would favor this inflationary program. I [...] |
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