The EZ Money Boom

– “Those Were the Days” by Gene Raskin

POITOU, France – Yes, they were good years… 1980-2015. We laughed. We cried. We got married. We raised children. We bought houses. We made money.Whose life has not been improved since the end of the 1970s?

Reagan’s “Morning in America.” Then the Clinton Years. Finally, George W. Bush’s “Fin de Bubble” era. Who is not older and better off (or at least older) than he was when the era began?

Even now – after eight decades and after the story was told by giants such as Galbraith, Keynes, Friedman, and Rothbard – it is still hard not to get lost in the details.

Something happens in the markets… the feds react clumsily… it leads to unforeseen consequences… which causes more market action… leading the feds to do something even more asinine.

In Vivek’s account, the comedy is never overt. But the farce is unmistakable. One government bumble leads to another throughout the Great Depression. Finally, World War II comes along and a new round of mistakes begins.

Vivek set out to describe how today’s world of money got to be what it is. He shows how simpleminded, self-serving theories, along with the usual low-bred chicanery and larceny, have caused countless headaches over centuries.

In that sense, there is nothing particularly special about our generation or the boom of the last 35 years.

The dreams of easy money are still the same.

Reprinted with permission from Bonner & Partners. 

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