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Originally Posted by alexamenos
still waiting on an informed critique of the statements in question.
cheers
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ok.
the monetary policy of our federal government does not in itself transfer wealth to the priviledged rich, and in fact is a catalyst for the lower and middle class to have the opportunity to increase their wealth thru an expanding economy.
second, the low interest rates promugated by the federal reserve board and the money supply did not precipitate nor cause the "artificial boom" (how can the very real and quantifiable "boom" in mortgages be called "artificial"?) in mortgage lending, wall street and the emergence of non-regulated/non-bank mortgage cos., along with the free flow of capital across national boundaries, contributed the fuel to a frothy residential marketplace.