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Discussion: (4 comments)

  1. RJ Chavez

    Austrians believe that the Fed is pointless, obstructionist, and better off dead. Ryan does not believe this, from what I can tell. Manipulation of interest rates by the Fed inefficiently allocates capital to places a legitimate market would not. After voting for TARP and the auto bailout, I think using ‘Austrian’ and ‘Paul Ryan’ in the same sentence is anathema.

    1. kurt waugh

      I don’t have any idea of why he voted for the bailout. But as for TARP, wasn’t this sold as emergency measure? I wonder if he regrets that vote, somehow.

  2. kurt waugh

    Excellent article. Question: I’ve heard “tax cuts” described as a Keynesian measure. But doesn’t that depend on where the money comes from? Does the money come from individuals or from a state which collectively owns everything? The government seems to think that they own everything. And with the Obamacare ruling, government does own everything: all they have to do is call it a tax. Taxation w/o representation. Supreme Court blew it by rewriting the law to read “tax.” If Congress wanted “tax,” they should’ve written “tax.” They wrote “penalty.”

  3. Matthew Grubesic

    The problem with raising rates through monetary policy causes the debt that the Treasury has piled on through fiscal policy to increase at a faster rate because of the higher interest rate. The funny money has gotten out of control, and the individuals that have concocted this shell game have no idea how to end this debt crisis. Printing more money is not the answer, it has not stabilized the housing market or employment. Rates have been at 0 for 4 years and nothing has changed, the little guy is suffering as usual while the government is clueless. The only asset class benefitting is the stock market and that is on low volume rallies with very little benefit to the middle class.

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