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20 sats \ 2 replies \ @Rothbardian_fanatic OP 3 Dec 2024 \ parent \ on: The “Price Stability” Myth Undermines Our Economy and Well-Being econ
Price stability? No, they were after something else. They drove us into WWI, created the situation that caused the Great Depression and WWII, they inflated for LBJ and his guns-and-butter policies, they force Nixon to default on gold issuance, f*cked up the rest of the 70s, crashed the inflation in the mid-80s via Volcker’s rule, busted the 1998 monetary crises, crashed the .com economy, flooded the post 911 economy with easy money, leading to the 2008 housing market crash and slopping us through the teens with inflation until they flooded the market again in the early 20s. No, I could not say that price stability was one of their criterion. It seems that being servile to the banksters and their bought-and-paid-for politicians is their forte.
It's hard to fathom how econ teachers can continue using the "price stability" justification with straight faces.
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They can use it with a straight face because they know no better than Keynesian statist BS. Most of them have never heard of the other schools of economics, let alone be familiar with them.
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