Why the meltdown should have surprised no one
Ludwig von Mises Institute
by Peter Schiff
06/12/09
We had a stock-market bubble because the Federal Reserve was too easy; they were too loose in the 1990s. Interest rates were too low, we created too much money, and that fed the investments in the stock market. And we had a lot of malinvestments. Companies were created that never should have existed. They were created not because they could generate a profit, but because they could go public, because investors wanted these stocks. It didn’t matter that they couldn’t make money...
http://mises.org/story/3493
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=stock+market
http://freepage.twoday.net/search?q=Federal+Reserve
http://freepage.twoday.net/search?q=Peter+Schiff
by Peter Schiff
06/12/09
We had a stock-market bubble because the Federal Reserve was too easy; they were too loose in the 1990s. Interest rates were too low, we created too much money, and that fed the investments in the stock market. And we had a lot of malinvestments. Companies were created that never should have existed. They were created not because they could generate a profit, but because they could go public, because investors wanted these stocks. It didn’t matter that they couldn’t make money...
http://mises.org/story/3493
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=stock+market
http://freepage.twoday.net/search?q=Federal+Reserve
http://freepage.twoday.net/search?q=Peter+Schiff
rudkla - 15. Jun, 09:56
