That’s the title of an article from AgainstCronyCapitalism.org – We Need More Capitalism, Not Less. More Freedom. Not Less.
From the article:
Never forget, the financial crisis which we are suffering through is not the creation of capitalism. It is not the creation of a free market. It isn’t because businessmen were too free in their dealings that everything fell apart the way it did.
The financial crisis was and is a failure of central planning.
The Fed kept rates too low for too long. That is at the very core of what we are dealing with now. Because the most important price in the world, the price of money, was kept artificially low by our central bank a giant bubble emerged. Then it popped. Now we have the carnage.
The very real danger in the air is that the Fed has been intentionally holding interest rates at a very low artificial level. In addition to destroying the investment income of retired people, there is a serious risk of creating another bubble.
There is also danger from what happens when the Fed backs off the artificially low interest rates. There could be painful consequences of going back to non-artificial rates.