Federal Reserve Confesses Sole Responsibility for All Recessions – The Great Recession Blog

Which Do you Prefer? End the FED

Federal Reserve Confesses Sole Responsibility for All Recessions

The Great Recession Blog
January 16, 2019
In a surprisingly candid admission, two former Federal Reserve chairs have stated that the Federal Reserve alone is responsible for creating all recessions in the United States.
First, former Fed Chair Ben Bernanke said that

Expansions don’t die of old age. They get murdered.

o clarify this statement, former Chair Janet Yellen placed the murder weapon in the Fed’s hands:

Two things usually end them…. One is financial imbalances, and the other is the Fed.

Read More: thegreatrecession.info/blog/federal-reserve-causes-all-recessions/

The Coming Of Depression Economics

More meddling in our economy by central banks, encouraged by paid celebrity economists, is what got us into this mess in the first place.

How to tell the media is lying about unemployment

Jeffrey P. Snider
Like it or not, this is where we have been all along and a great many people are just now catching up. No matter what Janet Yellen says about the economy, she is talking out the side of her mouth. Internally, the recovery is gone, and it is never coming back. Externally, we have sub-5% unemployment so we all should be so happy, especially with, in her view, stable prices.

To their credit, many prominent economists aren’t so enthusiastic about those prospects. Among them are Larry Summers, Paul Krugman, and Brad DeLong, all who recognize that “something” just isn’t right and therefore “something” else should be done about it. Thus, the real economic debate over the coming years (unfortunately) will take shape around those two facets. Having wasted nearly a decade on purely central bank solutions that were never going to work, the real discoveries can now possibly take place.

The problem is as I wrote yesterday, where in a rush to do anything and everything “different” the Trump administration might actually spoil the process. De-regulation and income tax cuts, as well as the repeal of Obamacare, are all very good things that sorely need to be addressed; but they didn’t cause this depression and thus won’t get us out of it. And you can bet that none of Summers, Krugman, or DeLong will be in favor of those options, so if they all fail to restore economic growth, as I believe they will if left in isolation, then that will severely diminish those ideas for perhaps a generation or more. That would be a fatal mistake, especially since for the first time in many generations people outside of Economics are receptive to “new” ideas (that are only new because they have been out of practice and actively discouraged for so long).

Read More: www.alhambrapartners.com/2017/01/26/the-coming-of-depression-economics/