Economy Watch Part 1

Most may not have noticed, but the American economy has lost 465,000 jobs over the past two months. Alan Greenspan and the Federal Reserve are planning a billion-dollar cash infusion plan and an interest rate cut to soften the economic impact of yet another recession.

Two points to make:

(1) Let the recession occur. Burst the tech bubble and quit subsidizing it. Recession happen.

(2) The Federal Reserve is obsolete. If you’re like me, I don’t carry greenbacks anymore unless I have to. Most money is digitized now, so the effects of the Fed pumping more greenbacks into the economy simply don’t have the effects that they would have in say, the 1950s. Foriegn Affairs had a great article on this, but unfortunately they don’t have most of their articles online. I’ll see if I can find it.