Operative SMC writes:
Dr. J, The following comes from my favorite local bank. The CEO sends a weekly email to customers from the economist Robert Genetski. The following article by Genetski is illuminating on the 2008-present recession/depression.
Here’s a link to the PDF version:
Dr. J. has had a chance to read it, and to sum up, the Fed, through monetary policy has historically tried to tame the booms and busts in a healthy free market economy, ostensibly by trying to prevent the last economic crisis (or prior crises) from occurring again. Unfortunately, the Fed sometimes gets too cute for school and pushing their luck make things worse, rather than better, in a brand new way.
Dr. J. has always felt that less is more. Of course he has benefited from their reindeer games with an interest rate on J. Abbey of less than 4%, but the Greenspan approach has had its side effects.
Thanks for writing in!
P.S. – Dr. J. scheduled this on Friday for Sunday delivery…