I have to say, Sylla's first argument smacks me as the argument for socialism and communism- i.e. it just has not been done correctly yet. How about it the Federal Reserve (and all central planning) just does not work.
And in a more stunning omission (at least for the uninitiated)- both Grant and Sylla agreed the Fed was in the business of pushing the stock market higher. Considering the focus on the stock market, I wonder if anyone has done a velocity of money calculation incorporation market capitalization?
And in a more stunning omission (at least for the uninitiated)- both Grant and Sylla agreed the Fed was in the business of pushing the stock market higher. Considering the focus on the stock market, I wonder if anyone has done a velocity of money calculation incorporation market capitalization?
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