30 September 2013

Market Failure

Economies don’t fail. They do exactly what they want to do exactly when they want to do it.

Fed chiefs fail to improve them. Politicians fail to understand them. And everybody fails to appreciate them.
Bill Bonner on Market Failure.

24 September 2013


Since banking is not a business that creates real wealth, it can only enrich its owners by taking money from other people. It does that by: (1) printing money (and buying the banks’ deadbeat assets); (2) fixing interest rates at artificially low levels (taking money that should rightfully belong to savers); and (3) generally encouraging inflation to rob everyone.
Bill Bonner explaining that the Fed is a vast cartel charged with making for its members and clients.