Beware "Stabilization"
The inestimable Robert Higgs
, a Freeman columnist and senior fellow at the Independent Institute, has another insightful entry at The Beacon. In “Stabilize This, Stabilize That,” Higgs rips the mask from government programs ostensibly designed to bring stability to the economy. As he puts it:
[L]ike most government policies, those purportedly aimed at stabilization are actually intended to transfer wealth, doing so under cover of the seemingly admirable announced goal of restoring order to something currently askew….The whole song-and-dance is a fraud. The government isn’t stabilizing the financial markets. It is robbing taxpayers for the benefit of privileged beneficiaries with the political clout and connections to put themselves at the head of the line when the Treasury hands out the loot.
Read it all. As usual, Higgs is right on the money.
