Sunday, July 26, 2009

Is Spitzer a closet Austrian?

From Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’:
Advocating in favor of a House bill to audit the Federal Reserve, Spitzer said: “The Federal Reserve has benefited for decades from the notion that it is quasi-autonomous, it’s supposed to be independent. Let me tell you a dirty secret: The Fed has done an absolutely disastrous job since [former Fed Chairman] Paul Volcker left.
That would be Ron Paul’s House bill to audit the fed.
“The reality is the Fed has blown it. Time and time again, they blew it. Bubble after bubble, they failed to understand what they were doing to the economy.”
Since when did Spitzer become an Austrian (economist)?

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