Loose Money And the Roots Of the Crisis

The Wall Street Journal ^ | Sep. 30, 2008 | Judy Shelton

[Christopher Lincoln]

When credit markets seize up, when financial instruments disintegrate, when the dollar fails -- it's not because Alan Greenspan was not sufficiently omniscient. He wasn't, true. But no one ever was. No one ever could be.

If capitalism depends on designating a person of godlike abilities to manage demand and supply for all forms of money and credit -- currency, demand deposits, money-market funds, repurchase agreements, equities, mortgages, corporate debt -- we are as doomed as those wretched citizens who relied on central planning for their economic salvation

[Enterprise]

Oooh, I like that! You likee central planning? Welcome to socialism comrade!

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