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THE ROAD TO HYPERINFLATION, Part 2 - A failure of central banking

Henry C K Liu Asia Times online 30.01.2008 12:11

image : wikimedia.org

image : wikimedia.org

U.S.A. first relied on an unguarded economy, the central banking having being created only in 1913. Its primary duty was to keep the country from successive booming & busting cycles that characterized the former periods. But history for the past 94 years showed little effect in stabilizing financial markets with monetary policy, in preventing inflation nor in sustaining growth nor in achieving full employment...

(See also PART 1: Fed helpless in its own crisis)

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155 slain teachers in Southern Thailand honoured Thai police seize bomb materials in alleged plot Chevron Orders Three New Rigs From Transocean for Thai Drilling Honda may spend $650 million to restore Thai plant: report Thailand's tourist arrivals rise 21 per cent Thailand Tightens Security At Two Airports Amid Terrorist Threat Thailand holds first mobile cabinet meeting in Chiang Mai Dutchman sought by police in Thailand gets 28 years in jail in Peru Thailand’s 84-year-old King Bhumibol treated with intravenous antibiotics for abdominal pain Britain's ex-PM Blair teaches Thai children

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