Monday, April 30, 2012

Matonis: "I am sure Bob didn’t just go for the food"

Jon Matonis writes at Forbes:
Somebody finally turned on the lights at the Fed. As a regular subscriber to Wenzel’s Economic Policy Journal, I enjoyed reading the full text of Bob’s landmark speech to the Federal Reserve Bank of New York last Wednesday. Kudos to Bob on garnering the invitation in the first place. Scott Horton joked on his radio program that it must have been like showing a card trick to a dog (in the words of Bill Hicks).

It’s well known that the Fed has discretely dominated economic journals to quash real criticism. Rather than hurl insults at Fed economists and central planners during a lunchtime gathering in the bank’s Liberty Room, Robert tactfully exposed economic fact after economic fact that probably had some in the monetary priesthood questioning the morality of their own careers.

Even though it’s a speech more entertaining than effective, this is the chance of a lifetime for an Austrian School economist and I am sure Bob didn’t just go for the food

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