Hat tip Zerohedge.com
At mises.org, Frank Hollenbeck points out two causes of income inequality, one good and one bad. The bad source of income inequality is our Central Bank. As Hollenbeck states...
"Every dollar the central bank creates benefits the early recipients of the
money—the government and the banking sector — at the expense of the late
recipients of the money, the wage earners, and the poor. Since the creation of a
fiat currency system in 1971, the dollar has lost 82 percent of its value while
the banking sector has gone from 4 percent of GDP to well over 10 percent today."
I think that Hollenbeck is spot on in his analysis. The alliance between big finance and big government is a trend that has not been good for the rest of us. Hollenbeck's article is a good explanation of why that is the case and will hopefully receive as much exposure as possible.
At mises.org, Frank Hollenbeck points out two causes of income inequality, one good and one bad. The bad source of income inequality is our Central Bank. As Hollenbeck states...
"Every dollar the central bank creates benefits the early recipients of the
money—the government and the banking sector — at the expense of the late
recipients of the money, the wage earners, and the poor. Since the creation of a
fiat currency system in 1971, the dollar has lost 82 percent of its value while
the banking sector has gone from 4 percent of GDP to well over 10 percent today."
I think that Hollenbeck is spot on in his analysis. The alliance between big finance and big government is a trend that has not been good for the rest of us. Hollenbeck's article is a good explanation of why that is the case and will hopefully receive as much exposure as possible.
RSS Feed
