Monday, March 3, 2008

The Federal Reserve's Rescue Has Failed

That's not someone from Lew Rockwells, Mises Institutes or Gary north saying that. It's from the London Telegraph. A sign of the times. Today's Republic paper said that for restuarants it's the worst it's been in two years. But it's just beginning is the bad part.

The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed....Read more>>

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