FRIDAY FREE FOR ALL - December 10th, 2010
By 250 News
Friday, December 10, 2010 12:00 AM
What a week! Christy Clark in the Liberal race, Carole James is out as NDP leader, Skakun trial wraps up hearing testimony, it all should make for lots of discussion.
You pick the topic today, because it is the FRIDAY FREE FOR ALL.
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L E T 'E R R I P !!!
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"We need to remember that the current crisis is the consequence of previous crises provoked by the Fed and other central banks around the world.
When they create too much money out of thin air and artificially reduce interest rates, they bring on artificial booms, which are necessarily followed by a crash. We had the high-tech boom at the end of the 1990s, followed by the crash in
2001. And then the real estate boom, followed by another crash beginning in 2007.
Each time, central banks inject massive quantities of new money in the economy to prevent the crisis. But all they manage to do is to create more instability."
"Economics has taught us that to have sustainable growth, we need monetary stability and prudent economic policies that favour entrepreneurship and trade. But for many years now, western countries have tried on the contrary to produce wealth with more debt and more money created out of thin air. This is a recipe that has never worked and which may only prolong the crisis we are in.
We need to change direction, and the sooner the better."
http://www.maximebernier.com/en/2010/12/une-mauvaise-recette-pour-la-reprise-economique/#more-2472