George F. Will: The Fed's applied progressivism

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  • CLM Draper, UT
    Sept. 29, 2013 6:51 p.m.

    It's about time we saw someone in MSM tell the truth about the Fed, and in no uncertain terms. Bernanke/the Fed is madly pulling the levers of the printing press and reversing the wheels of the interest rate, as clueless and full of bluster as that wizard behind the curtain in Oz...only in this case, the result is irreversible damage to a real economy.

  • SEY Sandy, UT
    Sept. 29, 2013 10:10 a.m.

    Exactly right, Mr. Will!

    The Federal Reserve is an outgrowth of the progressivist impulse to tinker with forces they don't really understand. Economic variables are perhaps not infinite, but are far beyond the scope of any one man or woman (or a group of them) to properly understand.

    This interventionism has turned the economy into a Rube Goldberg-like contraption that needlessly breaks down and invites endless reconfiguration and repair. Along the way, the Fed's crony bankers get richer and more powerful at the expense of the rest of us.

    The Fed has been instrumental in magnifying income disparities and disrupting national and global economies. It is now responsible for delaying any hope for economic recovery by propping up businesses that should have been allowed to liquidate.