Jun
24
Capitalism in America
June 24, 2023 |
Interesting and poignant articles in The Austrian point out that the Fed now owns 2.6. trillion of mortgage securities. it built this up since 2008 and caused distortion in the real estate markets. The fed has a 408 billion mark to market loss on these securities - 10 times the Fed's capital of 42 billion.
The Fed Is Overindebted, Isn’t It?
Wall Street to the Fed: Inflation Is Over. Give Us More Easy Money!
An excellent and inspiring book:
Capitalism in America: A History, by Alan Greenspan and Adrian Woolridge
Chapter 3 of Greenspan's book is inspiring: "In 1914, Americans were able to shave with Gillette, gab on phones, drive a Model T…before that there were more animals that people in cities."
Hany Saad is surprised:
Victor Niederhoffer praising “anything” Greenspan!!!!! Now I know I am in Kansas.
Vic clarifies:
the last part of the book is typical Greenspan propaganda for the progressives.
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