Inside Look: Hidden Erosion of Corporate Worth Since the Government Abandoned Money | Elliott Wave International

Despite our delineation of the money era from the accounting-unit era, the Fed deserves only part of the proximate-cause blame for the monetary and economic conditions of the bearish period since 1965. Congress is primarily responsible for bloating credit and for burdening the economy, by means of its debt engines (FHLBs, FNM, FMAC, GNMA, student loans), speculation guarantees (FDIC, FSLIC, bank and corporate bailouts), regulations (OSHA, EPA, EEOC, etc.), taxes (income tax, social security tax, inheritance tax, gift tax, capital gains tax, excise tax, gas tax, medical tax, etc.) and criminalization of enterprise (via thousands of state and local laws prohibiting free enterprise); and its own creation—the Fed—has helped finance it all.

via Inside Look: Hidden Erosion of Corporate Worth Since the Government Abandoned Money | Elliott Wave International.

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