Monday, August 27, 2007

War on Usury

It's not just for Islam any more. National Review's Larry Kudlow --

Cutting the fed funds rate "removes a tax on money" that has weakened the economy and the dollar in recent years. This tax on money has also strengthened the gold price, a symbol of higher inflation.

Apparently the right interest rate is zero. As Kudlow says --

It may sound counterintuitive, but it makes perfect sense in the logic of supply-side economics.


No comments: