Monday, September 23, 2013

Peter Klein on Bernanke's Lack of Tapering

My friend and economist (some of my best friends are economists) has a few remarks about Bernanke's recent announcement that the FED will not begin tapering down its balance sheet that it has built up during its grade experiment in quantitative easing.

As always Klein presents some provocative insights about where we are economically, namely in the first stages of another cluster of destructive malinvestment.  Wouldn't it be better, he asks, if capitalists and entrepreneurs could make investment and production decisions based on economic fundamentals and not have to forecast what one uber powerful central banker decides to do? He also comments on the Name-the-Next-Fed-Chairman game that is so popular these days. Klein is Executive Director and Carl Menger Research Fellow for the Ludwig von Mises Institute.

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