RE: We should all congratulate the Federal Reserve for stimulating the U.S. economy
I hear what you're saying but the world would be much better off without central banking. Yes, this would cause serious economic disruption if this goal was actually achieved but in the long-run would be a good thing. All of this shit started thanks to FDR and because of the Fed, we never really feel the full impact of recessions & depressions. When the next bubble bursts (exacerbated by the bail-outs of .com & '08) I don't think you are going to be instructing others to thank the Fed. Your argument is kind of like saying, "Sure cancer is bad, but you should thank it for the enjoyment you get out of life during periods of remission". The Fed aka the Cancerous cells in this analogy are the problem in the first place. Never going to thank an irresponsible bureaucracy!
Could not have said it better myself steemitsteve :)
The world without central banking is like the earth without a sun. It isn't possible to have a country without a central bank. You are submitting an impossible rebuttal. When you say the next bubble will burst large, I tend to disagree. I think the next bubble burst will be minimal and short lived, since QE was so large. Recessions like the Great Recession tend to only happen once every 50-100 years, so the data shows. I agree with your metaphor that the Fed is cancer, but there is no cure for cancer, just like there is no other alternative but the Fed.