 Mr. Martin Wolf is the lead financial commentator for the influential Financial Times of London. He recently penned an editorial called, Wipe Out the Rentier with Cheap Money. This harkens back to John Maynard Keynes's famous saying about doing away with or the euthanasia of the rentier and the rentier was basically people who live off of fixed income from bonds and from land and things of that nature. He's the aristocratic class. In analyzing the economic crisis, Mr. Wolf advocates massive public works projects. But in the absence of that, he believes that we have to continue the cheap money policy of ultra low interest rates and quantitative easing. It's long been known that this easy monetary policy hurts groups in society such as households, savers, insurance, and pensions. Lower interest rates make it difficult for insurance companies to earn money on their investments for pensions to build up, for retirement accounts to build up, and for households to save for the future. At the same time, an easy monetary policy in ultra low interest rates helps large corporations, it helps large U.S. banks, and it helps the government itself because those groups are the largest borrowers in society, lower interest rates benefits them significantly. The only thing that cheap money is doing is basically forcing all those groups, households, pensions, and insurance companies to invest in riskier assets and hence the stock market bubble. And it's really ironic or horrific that Mr. Wolf calls for the ruination of the Laurentier. When Keynes was saying it, he was referring to the aristocratic classes. In today's world, he's talking about the average citizen, mom and pop, you and me, to be hurt to the benefit of large corporations, the large U.S. banks, and the government itself. That's a policy that's doomed not to succeed in terms of recovering the economy. And that's the Mises View.