Coleman Church

Well, it's bad for a number of reasons.

One is...

If you believe in a free market capitalist system, you believe in the pricing mechanisms.

The free market pricing is everything.

The price of meat at the farmer's market is set by the free market.

Who's willing?

Willing buyers, willing sellers at a fair price.

Once you start to put in price controls of the Soviet Union, it's definitely we don't have free market capitalism.

At the core of free market caps is the price of money.

So we artificially put price controls on the price of money.

That's the way I look at it.

We artificially kept interest rates way too low at zero when the market didn't necessarily demand the conditions.

Maybe at the time, certainly.

Five years hence, 2015, I don't really see why we needed to keep interest rates at zero for that long.

So yes, yes.

I think the reason why, in my opinion, the reason why the people at the Fed, the dozens and dozens of PhDs at the Fed making these decisions, probably to a man, to a woman wrote their PhD on the Great Depression and what the Fed did wrong and the horrors of deflation.

So really the depression was really a result of deflation, right?

So that's the greatest boogeyman of all.

So anything you can do to fight deflation.

Deflation is the real killer, especially when you have an excessive debt load.