7 of 8 people found the following review helpful
A different point of view of why we are in the crisis,
This review is from: Meltdown: A Free-market Look at Why the Stock Market Collapsed, the Economy Tanked, and the Government Bailout Will Make Things Worse (Hardcover)
I decided to read this book because after reading several other books on this topic, I wanted to hear this author's point of view. It is apparent to me that there are almost as many opinions as there are experts. In this book, the author argues that the free market and greed did not cause the current financial crisis, but the Federal Reserve or Fed did by manipulating money and interest rates. He says that the Fed is supposed to provide stability and fight inflation, but it does the opposite.
In the author's view, economic cycles are not natural events, but, again, are caused by the manipulation of money supply by the Fed. In order to have a true free market, we would need to limit the Fed's influence and get rid of Freddie Mac, Fannie Mae, and FDIC. Because the book was published in 2009, it also addresses our government's futile actions trying to restore the economy.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
Meltdown: A Free-market Look at Why the Stock Market Collapsed, the Economy Tanked, and the Government Bailout Will Make Things Worse(8 customer reviews)