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Dallas Fed President Attacks Ron Paul

By Implode-Explode Heavy Industries

``This is the same old Punch and Judy show that monetarists and Keynesians have been playing ever since 1936. The monetarists condemn the national government for its spending, but only after the government has bailed out the big banks and large corporations that were threatened with bankruptcy during the recession that was caused by the central bank's prior monetary inflation. The Keynesians remain silent during the boom phase, never calling on the central bank to stabilize money. Then they complain during the recession that the central bank is being too tight with the monetary base. The result of this Punch and Judy show is the astronomical increase in both the monetary base and debt.''

Full post as published by Mortgage Lender Implode-o-Meter on January 23, 2011 (boomark / email).