Echoes of the Federal Reserve
In our town there have been endless meetings about combining some of the lower grades in school because there are so few students. As you can imagine, there are people on both sides of the issue and tensions run high. Our principal is applying to other schools, perhaps because of the shrinking demographics and the lack of career advancement potential with a small school (and the stresses involved with managing such a decline).
But, why is this happening? Because there are fewer young families moving to town.
Why? Because the housing prices are so high, advancing far more quickly than wages.
Why? Because of the housing bubble.
Why? Because Alan Greenspan created it with artificially low interest rates to try to avoid the pain of the NASDAQ collapse.
The true costs of the Federal Reserve are likely incalculable, but they’re much higher than any standard economic analysis is likely to reveal. This is just one example of why we can no longer afford the Federal Reserve.