The Federal Reserve System is an extremely controversial and largely misunderstood institution. Senators on both the right (Ron Paul) and the left (Bernie Sanders) are highly critical of The Fed. I've shied away from commenting on The Fed because it's a pretty complex subject. Every time I think there's a point to be made, … Continue reading Is The Fed Corrupt or Out of Control?
A colleague asked for my thoughts on this article/column by Michael Manning in the State News, the Michigan State student newspaper, so I thought I'd post it for all. Basically Mr. Manning reaches the right conclusions with a correct, but weak case. In looking at the issue of the size of the U.S. national debt … Continue reading The Misunderstood National Debt
A common refrain among the "cut, cut, cut" chicken littles and the hard-money crowd is that "the Fed has turned the printing presses lose printing money". These folks should really join us in the 21st century. That's not how it works and that's not what The Fed has been doing. Quantitative Easing, as well as … Continue reading The Fed Has NOT Been Printing Money