Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Hawkmoon who wrote (102002)	9/16/2009 9:36:00 AM
From: Little Joe	Read Replies (1) of 116555

It seems to me that our society has changed from one that rewards productive effort to one that rewards speculation. I suppose that is inevitable if you have fractional reserve banking system. I think the reserve system may have actually created and aided our competition. Without the excess money that was sloshing around, which was created by the Fed, would China have been able to totally modernize its economy in such a short period of time? I have never read any analysis along these lines and I certainly lack the expetrise to explain it, but I think there is something to it. lj

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