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Politics : Welcome to Slider's Dugout

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To: fred woodall who wrote (19062)	9/2/2009 9:45:19 AM
From: Northern Marlin	3 Recommendations of 50387

Only markets can successfully set the price of money: interest rates. The central planners at the Fed have always failed at this impossible task, and Congress would, too. That's because no one man or small group of individuals, no matter how intelligent they are, can foretell the needs of an economy. Only a market of individuals, each making decisions in his/her own self interest can correctly set the price of money, also known as interest rates. The writer of the article (Peter Eavis) incorrectly assumes that some entity must set interest rates. He probably was indoctrinated with the same crap economics courses that I had to learn in public school and then unlearn later in life. For more information on Austrian economics please visit mises.org. It will open a new and hopeful way for you to see the world. Phil

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