The Federal Reserve System *requires* price inflation. If the FR's mandate is to achieve stable prices, then we must conclude that the FR has been failing on a yearly basis for the past 98 years.
It's time that we redesigned our monetary system. Perhaps something not based on promises in order to avoid the economy getting "too hot" which is a just an obscure way of saying that there are not enough resources and wealth-production capability to back up the number of promises that have been made.
The Federal Reserve System *requires* price inflation. If the FR's mandate is to achieve stable prices, then we must conclude that the FR has been failing on a yearly basis for the past 98 years.
It's time that we redesigned our monetary system. Perhaps something not based on promises in order to avoid the economy getting "too hot" which is a just an obscure way of saying that there are not enough resources and wealth-production capability to back up the number of promises that have been made.
vmardian 9 months ago