Capitalism argument far from over
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#1 Jan 8, 2009
The day congress effectually traded it's responsability to coin and regulate the american currency our Constitution told them to do, to the Federal Reserve Bank the USA was no longer a "Laissez-Faire Capitalism" operating economy.
We introduced a system to create regulation on the private sector by controling intrest rates. This creates the boom & bust cycles we see in the market. The suppression of the Free Market by the Federal Reserves adjustment of rates is the bust side, so it is easy to "blame" the system of free trade for the painful side of the Central Banks choices and decisions that fail. The market tries to fix itself and that is where the Federal Reserve acts on intrest rates so we see a boom. The problem right now is there is no specific area of risk anyone is willing to take so the Fed has to look blindly to the left and right and just drop rates. But no one wants to take a risk because no one wants to trust the economy they have created for us under the guise of Free Market.
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