Sign the Ron Paul 2012 Petition: www.RonPaul2012.net Please like, share, subscribe & comment! http 01/31/2011 America Is Hurting While the Fed’s Cronies Enjoy Full Employment and Jackpot Bonuses by Ron Paul Unemployment continues to plague our economy. In spite of constant claims that we have just turned the corner into recovery, the jobs report remains grim with no real signs of improvement. While Keynesian economists and big government apologists scratch their heads about persistent unemployment in spite of unprecedented government so-called “investment” in the economy, free-market economists understand the problem perfectly well. In short, they understand that we are looking to the Federal Reserve to solve an unemployment crisis that the Fed itself largely created. For example, the Fed is supposed to maintain full employment as half of its dual mandate. But the Fed simply has the wrong tools to do this. In fact, its credit expansion and manipulation of interest rates cause harm when they are applied to “help the economy.” As we saw with the housing boom and bust, Fed-created inflation cannot be sustained without harmful consequences. The Fed’s artificial boom led to the unemployment we’re suffering today. The Fed is not a small business or a manufacturer that creates value or increases productivity to sustain real job growth. It literally destroys value by printing more money and distributing it through sweetheart deals to well-connected banks and corporations

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