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Politics : Ask Michael Burke

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To: BGR who wrote (77289)	3/8/2000 5:46:00 PM
From: Mike M2	Read Replies (1) of 132070

BGR, the Austrians also believe in free markets that is why they object to the Federal Reserve because the Fed's attempts to lower the market rate of interest via the inflation of money & credit creates booms which distort the demand and output structure of the economy ( imbalances and malinvestments). the bust is NOT the result of policy mistakes after the collapse but rather the inevitable outcome of the excesses engendered during the boom. Mike

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