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show that Fed leaders, armed with the best economic data available, had little idea of what was looming less than two years off.
via Greenspan image tarnished by newly released documents – The Washington Post.
More proof that central economic planning fails. Always. Abolish the Fed!! and it’s US GOSPLAN.
Dagny's Desk 
kayjulia said:
I don’t know any economic plan that survives two years. According to that premise one with enough statistical data could call the next world series champions for the next two years without fail. This is more Ron Paul B.S. The problem with
Greenspan was he duped himself into believing that the banking and finance industry would police themselves as it was supposedly in their best interest-we found out that wasn’t the case the hard way.
The Libertarian paradigm is faulty its basis is that free markets work out best for everyone-no they don’t and they won’t; because what is good for a few (wealthy) isn’t necessarily good for the many (working-class). JMTCW.