Sub-prime scapegoat. Shame on the fed.
Wednesday, October 31st, 2007My thoughts today turn to the real estate market, the federal reserve, and the current reduction in home values around the United States, as well as the world wide crisis of confidence in U.S. commercial paper and the value of our currency. What ever happened to the gold standard, where dollars were backed 100% by gold, and a secret service of fed pundits did not have the ability to just print more money, further reducing the value of our dollar. (more…)