http://www.newschoolpolitics.com/objectivist-content/a-word-on-the-economy/ School's out. The New School is in session. Thu, 28 Aug 2008 00:37:55 +0000 http://wordpress.org/?v=2.6 http://www.newschoolpolitics.com/objectivist-content/a-word-on-the-economy/#comment-827 Eftychis Mon, 07 Jan 2008 05:22:49 +0000 http://www.newschoolpolitics.com/objectivist-content/a-word-on-the-economy/#comment-827 I think a lot of people are probably asking themselves how much sooner would the market have corrected itself if the Fed did not exist, and more importantly without these controlled interest rates that permitted the credit crisis in the first place, we would not be in this spot. Indeed it may be that we avoided a short term recession and are only creating an even bigger one in the future. Additionally, you commented on the price of oil-of course that is tied directly to the inflation of the dollar. As Dr. Paul pointed out, the value of oil has not risen against the price of gold; once again a gold based standard seems like it would make the most sense and return stability to the markets along with value to our currency. I think a lot of people are probably asking themselves how much sooner would the market have corrected itself if the Fed did not exist, and more importantly without these controlled interest rates that permitted the credit crisis in the first place, we would not be in this spot. Indeed it may be that we avoided a short term recession and are only creating an even bigger one in the future.
Additionally, you commented on the price of oil-of course that is tied directly to the inflation of the dollar. As Dr. Paul pointed out, the value of oil has not risen against the price of gold; once again a gold based standard seems like it would make the most sense and return stability to the markets along with value to our currency.

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