The Phaserl


Economist Mag Defends Fed With an Ode to the Dead

from The Daily Bell:

Age shall not weary her… America’s central bank has become ever more powerful over the past century … As the holiday season of 1913 drew near … Congress was still fighting over a bill to create the Federal Reserve, and Wilson had threatened to keep it in session over Christmas until the bill was ready for his signature. – The Economist

Dominant Social Theme: Long live the Fed. You may think it’s a horrid, ruinous, wealth-draining facility, but in the 21st century it’s as vital as ever. And what’s a little controversy between friends?

Free-Market Analysis: The funniest thing about this article – and there are many portions that are at least incongruous – is the short excerpt that was selected as the article’s title, above, “Age Shall Not Weary Her.”

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