The Federal Reserve issued a report this week warning about overvalued asset prices and the possibility of a wave of credit defaults due to the extreme levels of debt in the economy.
What it didn’t mention is the fact that it created the very problems it is warning about.
This is just like government – create a problem, warn about the problem, and then claim it will solve the problem. But the problems never get solved.
And before somebody emails me, I know that the Fed isn’t technically a government entity – strictly speaking. But in effect, it is.
For Further Reading
How the Fed Wrecks the Economy
The Federal Reserve: The Engine that Powers the Most Powerful Government in History
Fed Bond-Buying Backstops Government Borrowing and Spending
Michael Maharrey [send him email] is the Communications Director for the Tenth Amendment Center. He is from the original home of the Principles of '98 - Kentucky and currently resides in northern Florida. See his blog archive here and his article archive here.He is the author of the book, Our Last Hope: Rediscovering the Lost Path to Liberty., and Constitution Owner's Manual. You can visit his personal website at MichaelMaharrey.com and like him on Facebook HERE
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