Fifteen years ago, in an op-ed on this page entitled "The Fed Has No Clothes" (April 15, 1988), I wrote, "No major institution in the U.S. has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public recognition." As I believe my column demonstrated, that judgement is amply justified for the first seven decades or so of the Fed's existence. I am glad to report that it is not valid for the period since.
http://www.msjc.edu/DanPynn/Documents/T ... mostat.pdf
The Fed's Thermostat
Moderator: Global Moderator
-
MachineGhost
- Executive Member
- Posts: 10054
- Joined: Sat Nov 12, 2011 9:31 am
The Fed's Thermostat
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!