First the boom, then the bust
It's the Federal Reserve, stupid
Republicans blame Democrats when a Democrat is president, and Democrats blame Republicans when a Republican is in the White House as the economy contracts. Neither political party is directly responsible for the boom/bust cycle. The blame for the unsustainable boom and the inevitable bust is the Federal Reserve.
To understand why we have never ending booms and busts, Murray Rothbards’s essay first published in 1969 is invaluable. Everything you need to know how the economy goes from boom to bust repeatedly is spelled out in Rothbard’s concise, easy to understand monograph.
Last week I used the insight of the Austrian School of Economics to explain how past cycles unfolded and how the current cycle is different than previous ones at the Future of Freedom weekly webinar on the Federal Reserve and inflation.
The bottom line is that the economic cycle will be with us as long as the Federal Reserve manipulates interest rates and the dollar is not “as good as gold.” In the meantime, register for the upcoming webinars and hear several experts discuss the
Fed and how to end the pain caused by the Fed’s legal money monopoly.
Over the last decade or so, after the last financial crackup, the Fed tried to keep rates artificially low so that the increasing government debt could be financed dirt cheap and that people/business could borrow for expansion. Mostly business borrowed to use that debt to buy back shares which did nothing for the economy. It did help earnings which kept stock prices boosted which mainly benefited less than 25% of the those in the country that invest.
Incited by supply chain issues and direct government sabotage, inflation has come roaring back and the Fed has gone delirious. While the republicans are virtually the same spineless cowards as the democrats, this time it is leftist democrats deliberately trying to destroy the economy to comply with the WEF, gates, WHO, UN and other thug-ocracies demanding global economic/financial destruction in order to implement the great reset.