You can’t print production and prosperity

Ludwig von Mises Institute
by Doug French

07/23/09

It’s hard to imagine that the monetary policy talk can get any nuttier, but we’ve likely only just begun. After all, despite the Federal Reserve growing its balance sheet by 140 percent and dropping rates essentially to zero, the bankruptcies just keep on coming. Ex-Fed governor Wayne Angell told Larry Kudlow’s CNBC audience, ‘monetary policy always works!’ Although Angell does stipulate that it takes time before the tromping on the monetary gas pedal will spin the economic tires and spray the prosperity gravel...

//mises.org/story/3563


Informant: Thomas L. Knapp



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