Corno Dolce
Admiral Honkenwheezenpooferspieler
Some food for though dear MIMF'ers:
http://mises.org/story/3138
The world's financial markets and consumers will be faced with painful decisions soon to come. The article hits a home-run with a very prescient statement that "it is impossible to organise society, in terms of economics, based on coercive commands issued by a planning agency, since such a body can never obtain the information it needs to infuse its commands with a coordinating nature. To indulge in...believing oneself omniscient or at least wise and powerful enough to be able to keep the most suitable monetary policy fine-tuned at all times" is a "fatal conceit." Both sides of the political isle have failed in their leadership. We can *change* who occupies Capitol Hill and 1600 Pennsylvania Avenue but we will still be paying the piper.
http://mises.org/story/3138
The world's financial markets and consumers will be faced with painful decisions soon to come. The article hits a home-run with a very prescient statement that "it is impossible to organise society, in terms of economics, based on coercive commands issued by a planning agency, since such a body can never obtain the information it needs to infuse its commands with a coordinating nature. To indulge in...believing oneself omniscient or at least wise and powerful enough to be able to keep the most suitable monetary policy fine-tuned at all times" is a "fatal conceit." Both sides of the political isle have failed in their leadership. We can *change* who occupies Capitol Hill and 1600 Pennsylvania Avenue but we will still be paying the piper.