Comments on: Politicians Caused Mortgage Meltdown http://www.freecolorado.com/2009/07/politicians-caused-mortgage-meltdown.html Bloggage and Original News Coverage From Colorado and Around the Country Wed, 08 Feb 2012 00:13:57 +0000 hourly 1 http://wordpress.org/?v= By: Chris Maj http://www.freecolorado.com/2009/07/politicians-caused-mortgage-meltdown.html/comment-page-1/#comment-3656 Chris Maj Mon, 06 Jul 2009 17:58:00 +0000 "Meanwhile, the Federal Reserve artificially held down interest rates in the early 2000s, encouraging many to buy houses who could not otherwise afford them." Meanwhile, the elephant in the back of the room... Early 2000s? That's it? What about the last 100 years since the Federal Reserve was created by Congress to provide the nation with a stable monetary and financial system? The Great Depression hit less than 20 years after the Fed was set up, and now we are in another crisis, with many debacles in between. FAIL. But all Chicago school and Fed apologist Sowell can come up with is that politicians pander and pass hand outs to supporters? Does he make any connection between running a printing press creating money out of thin air and exponentially increasing government control over the economy? For the rest of the supposed defenders of the free market, do you also defend the central bank as Sowell does -- like Marx before him in the fifth plank? “Meanwhile, the Federal Reserve artificially held down interest rates in the early 2000s, encouraging many to buy houses who could not otherwise afford them.”

Meanwhile, the elephant in the back of the room…

Early 2000s? That’s it? What about the last 100 years since the Federal Reserve was created by Congress to provide the nation with a stable monetary and financial system? The Great Depression hit less than 20 years after the Fed was set up, and now we are in another crisis, with many debacles in between. FAIL.

But all Chicago school and Fed apologist Sowell can come up with is that politicians pander and pass hand outs to supporters? Does he make any connection between running a printing press creating money out of thin air and exponentially increasing government control over the economy?

For the rest of the supposed defenders of the free market, do you also defend the central bank as Sowell does — like Marx before him in the fifth plank?

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