Central banks can create infinite quantities of money, at no cost.
So they can reduce its value to nothing without difficulty.
As Robert Mugabe has shown, anybody can run a printing press successfully.
Wednesday, December 17, 2008
Saturday, December 13, 2008
Financial markets are perfect
Financial markets are perfect.
In particular when they are susceptible to boom-and-bust cycles.
Cycles of this sort have been, are and will be perennial with markets.
For addressing the results of these cycles all you need is free enterprise and free market.
In particular when they are susceptible to boom-and-bust cycles.
Cycles of this sort have been, are and will be perennial with markets.
For addressing the results of these cycles all you need is free enterprise and free market.
Thursday, December 11, 2008
To solve economic problems
To solve economic problems you have only two tools: personal responsability and market forces.
Government involvement in economic management is always the origin of an economic crisis.
Government involvement in economic management is always the origin of an economic crisis.
Wednesday, December 10, 2008
Tuesday, December 9, 2008
Let the market solve the problem.
The crisis is due to bad lending and investment decisions.
Commercial failures were compounded by a reliance on excessive leverage, or borrowed money.
That leverage was made even worse by the banks' use of off-balance-sheet vehicles.
Let the market solve the problem.
Commercial failures were compounded by a reliance on excessive leverage, or borrowed money.
That leverage was made even worse by the banks' use of off-balance-sheet vehicles.
Let the market solve the problem.
Monday, December 8, 2008
Tuesday, December 2, 2008
Government is taking my money
Government is taking my money in order to spend it "better" than I can.
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