{"id":4468,"date":"2010-01-06T12:59:00","date_gmt":"2010-01-06T12:59:00","guid":{"rendered":"http:\/\/euvolution.com\/futurist-transhuman-news-blog\/the-fed-and-the-next-bubble\/"},"modified":"2010-01-06T12:59:00","modified_gmt":"2010-01-06T12:59:00","slug":"the-fed-and-the-next-bubble","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/libertarianism\/the-fed-and-the-next-bubble.php","title":{"rendered":"The Fed and the Next Bubble"},"content":{"rendered":"<p>David Leonhardt has <a href=\"http:\/\/www.nytimes.com\/2010\/01\/06\/business\/economy\/06leonhardt.html?hp\">a terrifice piece<\/a> in today's New York Times on the Fed's quest for more power.&nbsp;&nbsp; His key point:<\/p><blockquote><p>The fact that Mr. Bernanke and other regulators still have not explained why they failed to recognize the last bubble is the weakest link in the Fed&rsquo;s push for more power. It raises the question: Why should Congress, or anyone else, have faith that future Fed officials will recognize the next bubble?<\/p><\/blockquote><p>A related point is that, even without additional power, the Fed could have sounded an alarm about the housing bubble rather than chanting, \"All is well.\"&nbsp; Imagine how different the last few years might have been if in 2004 the Fed's testimony before Congress had been, <\/p><blockquote><p>\"Housing prices are growing at an unprecedented rate.&nbsp;&nbsp;While the U.S. has never had a large nationwide decline in housing prices, it has also have had such a huge nationwide increase in prices, so all bets are off.&nbsp;Consumers and banks are becoming obscenely levered.&nbsp; Fannie and Freddie are issuing mortgages to every borrower with a pulse.&nbsp; This situation is scaring our pants off!<\/p><\/blockquote><div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"http:\/\/euvolution.com\/futurist-transhuman-news-blog\/wp-content\/plugins\/wp-o-matic\/cache\/b9db8_6379328854053402400-9038011212807855626?l=jeffreymiron.blogspot.com\" alt=\"\" style=\"padding-left:10px; padding-right: 10px;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>David Leonhardt has a terrifice piece in today's New York Times on the Fed's quest for more power.&nbsp;&nbsp; His key point:The fact that Mr. Bernanke and other regulators still have not explained why they failed to recognize the last bubble &hellip; <a href=\"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/libertarianism\/the-fed-and-the-next-bubble.php\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-4468","post","type-post","status-publish","format-standard","hentry","category-libertarianism"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/4468"}],"collection":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/comments?post=4468"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/4468\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/media?parent=4468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/categories?post=4468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/tags?post=4468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}