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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (4775)	3/25/2007 3:49:03 PM
From: Fun-da-Mental#1	Read Replies (2) \| Respond to of 50004

Re Ron Paul, the last paragraph there is just ignorant: "The Federal Reserve provides the mother’s milk for the booms and busts wrongly associated with a mythical “business cycle.” ... Unless and until we get the Federal Reserve out of the business of creating money at will and setting interest rates, we will remain vulnerable to market bubbles and painful corrections." If Ron Paul read history he would know that the business cycle is not mythical and it used to be much more severe in the days before the Fed, when they were on the gold standard. Recessions have become progressively milder over the last 100 years, and the boom times in between have also become less extreme. This is exactly the goal of Federal Reserve policy, and it seems to be working. Fun-da-Mental