Without a doubt, the measuring rod of money is broken. Indeed, money is loaned into existence by the Federal Reserve's banking cartel. Fractional-reserve banking allows it to be created out of thin air. Who needs a gold standard for self-measurement when any adult with a pulse can borrow and spend hundreds of thousands of dollars on McMansions, luxury automobiles, flat screen TVs, country club memberships, and spare-no-expense vacations? What a wonderful life the Federal Reserve has brought to Americans! Easy money and credit bring immediate indulgence. As long as you have absolutely no fear of debt, you too can look extremely successful without ever having had to save a dime. Accordingly, this has given rise to America's new insolvent class: the two-thousandaires.............

For the rest go to: http://www.mises.org/story/2221

please, no political CRAP from von MISES...keep the AUSTRIAN economics out of here.

Mises is great. What's wrong with Austrian? It sure beats Keynesian..or Soviet..or whatever other schools named after a country. Its economics, not politics. A lot of great American economists follow/agree Austrian ( or even Chicagoan?). Some have Nobels. As far as this particular article, written by a CPA and MBA.

Thank you. Unfortunately, its not what was posted, but who posted it.

How sad that rather than face the truth about money creation, the Federal debt and it's direct effect on your wallet, and the valuation or devaluation of the currency. We just stamp anything that might make us uncomfortable (The truth often does) as politics.

Keep spending what you don't have, Thats great money management.

Sorry but just scanning the article... it IS political since the premise of the article is that easy money is going to create socialist men, who will then vote to pick our pockets. There are some decent points, but the underlying tone is political.