One thought on “The Web That Is Woven

  1. I don’t think that most Americans would agree to have the government set the price of food, automobiles, gasoline or anything else. Everyone knows that the USSR turned into a colossal economic failure precisely because bureaucrats thought they knew more than the market and could set prices to whatever they considered “right”.

    So it amazes me that no one complains that we have idiotic bureaucrats in the FED setting the price (i.e. interest rates) of our most valuable commodity (i.e. our money). The FED has no more idea of what the “right” interest rate is than did the old soviet bureaucrats. In the meantime, they regularly under price credit creating bubbles, over indebtedness, and ripping off savers!!

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