Thursday, March 20, 2008

The War on Recession (Lew Rockwell)

Lew Rockwell on how the Fed's reckless policies will only prolong the recession that they caused in the first place:

We all want to live well and no one wants their living standard to decline. That makes sense, right? It's just the way we are made.

What does not make any sense is the strange article of faith that has descended over Washington, DC, that says that no prices must ever be permitted to decline due to recessionary pressures. All resources in the national treasury, every conceivable monetary manipulation, all efforts of every regulatory body must be marshaled toward the great national goal of re-pumping the economy, which must never ever be permitted to fall even a tiny bit.

Welcome to the War on Recession, which is being pursued with the same vehemence and folly as the War on Terror, and will likely prove just as spectacularly destructive of its own aims as well as liberty itself. Maybe we need songs, banners, and little ribbon pins too.

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