A good read on an old and new topic https://monetary-metals.com/the-zombie-ship-of-theseus/
show that Fed leaders, armed with the best economic data available, had little idea of what was looming less than two years off.
More proof that central economic planning fails. Always. Abolish the Fed!! and it’s US GOSPLAN.
A lesson not taught in government schools, the original Plymouth Rock colony was a “socialist paradise”. Oops, this paradise almost staved it’s people. Realizing the error, the colony switched to a private property/free market organization which produced enough food for all. Now that is something to be Thankful for!
Are we modern Americans smart enough to learn from our own history?
From a real economist.
- “Failure” only means that corporate bondholders don’t get every penny
- The Federal Reserve’s purchases of Fannie Mae’s and Freddie Mac’s debt obligations were illegal
- Creating shell companies to buy Wall Street’s bad assets is not “discounting,” and was therefore also illegal
- The skewed distribution of wealth in the U.S. is worsened by policies that misallocate capital and divert public funds to bail out investments that have already gone bad.
Tell me it’s not true!!
Brazil, the world’s biggest coffee grower, is facing the risk of frost after hail this month, raising the prospect of a 40 percent jump in bean costs after Kraft Foods Inc. and J.M. Smucker Co. already increased prices.
Arabica beans have already jumped 24 percent this year on signs demand is outpacing supply. The shortage will be 6.2 million bags in the crop year starting in October, according to Rabobank International. Kraft, maker of Maxwell House coffee, raised prices three times last year. It estimated in February that North American commodity costs would increase $700 million to $800 million this year, or about 1.5 percent of 2010 revenue.
Well, this is what happens when central banks create money from nothing.