The Fed Can’t Cure the Problems They Cause

by | Jun 19, 2017

The Fed Can’t Cure the Problems They Cause

by | Jun 19, 2017

The Federal Reserve claims it can continue “tightening” — even though it is still leaving interest rates at historically low levels — and begin unwinding its balance sheet, because the economy is “improving” and “will continue to improve.” But that is only true if one believes the government-manipulated unemployment and inflation statistics which, for example, do not count the record number of Americans who have withdrawn from the labor force.

Eight years after the market meltdown, the US economy remains on the brink of another major meltdown. Student loans, automobiles, and even housing are just a few of the bubbles whose bursting could send the fragile economy into another major recession. Of course, the largest bubble is the government bubble, which will dramatically increase thanks to the administration’s planned spending increases on militarism abroad and make-work infrastructure projects at home.

Instead of just winding down the Feds balance sheet, Janet Yellen should be working with Congress and the administration to unwind the system of fiat currency. A good place to start is with passage of the Audit the Fed bill.

This statement was originally published at The Campaign For Liberty.

Ron Paul

Ron Paul

Ron Paul is a doctor, author, former member of Congress, Distinguished Counselor to the Mises Institute, and Chairman of the Ron Paul Institute for Peace and Prosperity.

View all posts

Our Books

Recent Articles

Recent

Regime Uncertainty in Wartime America

Regime Uncertainty in Wartime America

The absolute state of America in its late-stage empire era is perfectly illustrated by the weekly, sometimes daily, cultural event of checking social media to see what unhinged post the president has left for us this time. This week’s installment, as the latest...

read more
What Is Wrong With Us?

What Is Wrong With Us?

Like most of you, I have been watching in shocked bewilderment the breathtaking stupidity of the Trump administration’s war on Iran, brought to us by the same kind of liars who sold us the same kind of lies about “weapons of mass destruction” in Iraq. United States...

read more
A $1.5 Trillion Pentagon Budget?

A $1.5 Trillion Pentagon Budget?

For anyone who has been paying attention to the metastasizing national debt and the fiscal recklessness that has defined Washington for the past two decades, the latest proposal from the Trump administration can be met only by a mixture of disgust and grim...

read more

Pin It on Pinterest

Share This