To recapitulate my argument from a previous article: Alan Greenspan's low-interest-rate policy in the wake of the dot-com crash spawned the housing bubble. Greenspan's Fed didn't actually eliminate the need for a recession, but instead postponed the crisis and made it fester. When reality hit in September 2008, Ben Bernanke was in charge of the Fed and implemented his predecessor's failed approach times ten.Why Is the Stock Market Plunging? - Robert P. Murphy - Mises Daily
Monday, August 8, 2011
Why Is the Stock Market Plunging? - Robert P. Murphy - Mises Daily
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