Detailed market commentary at The Market Ticker
(The Year 2012 In Review)
You are not signed on; if you are a visitor please register for a free account!
|MarketTicker Forums Single Post Display (Show in context)||
User: Not logged on
|User Info||Idiocracy On Display (Again): Krugman; entered at 2012-05-01 08:49:12|
Actually Paul did address the point about fractional reserve lending. Krugman brought up things like repo as being money substitutes and/or the creation of money out fo thin air. That's what Ron Paul was referring to when he said that banks and private players shouldn't be allowed to perpetuate "fraud." To the point above about "baby steps," even Krugman was flummoxed by the notion that fractional reserve is tantamount to "fraud." Joe6pack isn't ready yet.