The Fed Appoints Three New Drones. Hooray

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On Bloomberg, Jim Grant is asked how he feels about the three yes-men about to be appointed to the Fed.  Most guests would offer a few empty statements about the great qualifications of our new overlords.  Grant, on the other hand, gives a reply that only a few people in the world would give — namely, what the heck does it matter?  What will change with the addition of these people?  Absolutely nothing, as usual.  So why pretend to care, or that any of it makes any difference?  (Thanks to Bob Murphy.)

cross-posted from TomWoods.com

Thomas E. Woods, Jr. [send him mail; visit his website], a senior fellow of the Ludwig von Mises Institute, is the author of eleven books, most recently Rollback: Repealing Big Government Before the Coming Fiscal Collapse and Nullification: How to Resist Federal Tyranny in the 21st Century, as well as the New York Times bestsellers Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse and The Politically Incorrect Guide to American History. He is also the editor of five other books, including the just-released Back on the Road to Serfdom.

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This entry was posted on Tuesday, July 20th, 2010 at 8:59 am. It is filed under Economics, Federal Reserve and tagged with Economy, The Fed. You can follow any responses to this entry through the RSS 2.0 feed.