Anyone who insists on calling the American economic system a "free
market" needs to review some basic economic theory. As long as the economy
is driven by a government-created monopoly called the Federal Reserve, the
economy will never be correctly called a fee market. Only the Fed is legally
permitted to issue bank notes. Fed actions largely determine the cost of money,
i.e. interest rates. Control of the money supply and interest rates results in
virtual control of the economy itself, a far cry from any free market.
Quantitative easing is a euphemism for money-printing. Paul Krugman is seriously
mistaken when he urges its continuation. The longer it persists, the greater the
fall of the economy will be. QE is simply unsustainable. On top of that, the
idea that QE primes the economic engine is pure myth. The eventual collapse of
quantitative easing is inevitable. The only question is how much of the economy
will go down with it.
He saved the modern economy when Bush was confused. It has been based on
"money-printing for last hundred years. Is gold at 3000? By the way, the new
economic power is Communist China.
This muddled no win situation comes when a nation becomes a debter nation vs a