The government is running a $1.6 trillion deficit. Nothing can be done politically to stop this. We are on a runaway train. The main brakes were removed in 1971. The only brake now is that of the bond vigilantes, but the Federal Reserve is the buyer of bonds today, along with Asian central banks. Stockman observed that “the Fed’s QE2 bond purchases have been so massive that it is literally buying Treasury paper in the secondary market almost as fast as new bonds are being issued.”
Post Tagged with: "Mises Institute"
November 18, 2010 05:04
Will fellow Republicans hamper Ron Paul’s look at the FED?
Mises Institute Chairman Lew Rockwell and Judge Napolitano discuss whether Rep. Ron Paul will be able to investigate the Fed as chair of the Monetary Subcommittee of the House Financial Services Committee.
September 17, 2010 15:53
The Road to Serfdom: Despotism, Then and Now
Thomas DiLorenzo presented this sample lecture from the Mises Academy’s course, “The Road to Serfdom: Despotism, Then and Now,” on 26 July 2010. An hour and a half long but informative.
