This is a fun letter to The Business:
Although I have been an occasional reader of The Business (mostly due to having two young children that leave me little time to sit and read a Sunday newspaper in an enjoyable manner), I thought I would write to let you know you now have one additional committed weekly reader.
I have become disillusioned with the mainstream weekend financial press due to their unwavering profulgation of neo-Keynesian, Friedmanite, monetarist and inflationist commentaries with virtually zero commentary in the Libertarian-Austrian School of Economics vein….
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After reading enough of Mises.org, I started to notice that I cringe in frustration when I read the financial press anymore. No, there are no “flaws” in capitalism that the Fed supposedly fixes and it doesn’t't smooth out the upswings and downswings. No, the US economy doesn’t't have amazing resilience to disaster, it has an amazing ability to print money. No, the economy doesn’t't cool off or heat up, it’s the money printing that does. No, inflation doesn’t't stop depressions and depressions don’t stop inflation. No, we do not have a strong dollar policy. No, the problem isn’t that people overseas have a savings glut.
No, the fed is not an inflation fighter. No, depressions are not always bad. No, inflation is not under 3%. No, the account deficit does matter. No, the housing crash is unlikely to be slow and steady. No, neutrality is when the assets equal the liabilities, not when the economy is pristinely balanced between a great depression and hyperinflation. No, oil is not going up because of greedy oil companies. No, having a lot of debt is not the American way. I’m sure I’ve missed a few here. Really, when you listen to it all, one wonders what the hell is wrong with people!
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