Economics/Class Relations

A Malignant, Dysfunctional Monetary System

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WEDNESDAY, MAY 3, 2023
The powers of the general government are only of a general nature, and their object is to protect, defend, and strengthen the United States; but the internal administration of governments is left to the state legislatures, who exclusively retain such powers as will give the states the advantages of small republics, without the danger commonly attendant on the weakness of such governments.
– Francis Corbin

HORNBERGER’S BLOG
May 3, 2023

A Malignant, Dysfunctional Monetary System
When a monetary policy measures its success by how much economic devastation it is producing, that’s a good sign that that is one malignant, dysfunctional system.  But that is precisely what the Federal Reserve is doing with its policy of rapid, dramatic interest-rate increases. It measures the success of its program by how many people and businesses, especially in the housing industry, …
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