[rgcounts]

The alleged improved performance of the Fed after WWII doesn’t include the recent housing boom and financial collapse.

Whoa. I thought that the housing bubble was caused by Bernanke lowering the interest rates. Isn’t that what the Austrians have been saying for so long? Why doesn’t the performance of the Fed after WWII include the recent bubble?

So then, what of the argument that the Federal Reserve causes instability and longer crises? This data doesn’t seem to coincide with the Austrian theory that the Fed leads to longer lasting busts.

Or am I just way off the mark?

[rgcounts]

Kevin, as a Roman Catholic I find it rather difficult to point people just learning about the Church towards a good tradition of thought in the Church (I wouldn’t recommend anything this past century) . I am increasingly interested in the Eastern Orthodox Churches (more than a passive interest), and I will be reading “The Greek East and the Latin West,” but aside from that, which thinkers or Patriarchates (Right? Like Greek Orthodox and Russian Orthodox and Syrian Orthodox? Are those called Patriarchates?) do you think one should look toward?

I guess I’m asking about the politics and organization of the Orthodox Church. Help me out?

[rgcounts]

Jeff,
Can you expand on this sentence?: ” Commercial banks can use either currency or checking account balances at the Fed as reserves against the deposits their customers have.”

You also said this: “and the fundamental rate of interest will be at the level that clears the market.” How does it clear the market?

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