Loading ...will go from being a Hero that stopped inflation to being a BUM that wrote the Formula for Depression ..
Its because they use the only tool they have the Printing Press …
Its like asking a Carpenter to fix a watch ..the first thing he looks for is a Hammer !
Listen you Fed Head Idiots the “Money Supply “is NOT the CURE leave it alone at 6 % 0f GNP whatever that is !
Its your job to accommodate growth with new money at the same growth RATE as the economy ..when the economy falters leave the money supply alone do not cut it ..The little extra money will be there when it turns again ..Do not increase it ,you will create another problem.
Policy and Management will drive the economy ..NOT the MONEY SUPPLY .Replace the President or the Congress if the economy falters .
FIX the money supply at a % of GNP and do away with the FED ..6% is plenty ..it will stop inflation and depression.Its a self regulation mechanism fix it a 6 % and go away the Fed is not needed.