We are all Austrians Now?
John Carney at CNBC.com explains why the Federal Reserve economic recovery plan is failing - we are all Austrians now. He outlines his version of the Austrian Business Cycle Theory (ABC). It is an interesting discussion and worth reading his comments and criticisms as well as the original sources of the theory I have linked above. If you do not have time for all this reading then watch the video on quantitative easing (what we use to call printing money). It is not ABC, but it is a pretty accurate description of what the Fed is attempting and let's be honest just plain funny.
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