The Reagan Reverie (a.k.a. “Revolution?”) continues: Commander-in-Chief Reagan issues Executive Order 12681, establishing the “Working Group on Financial Markets,” with the assigned task of preventing future meltdowns in stock and bond markets. Prices will be allowed to go up, but not down—too fast.
NOTES:
- Austrian (free-market) economists criticize such endeavors to alter the course of the natural business cycle as quixotic as repealing the law or gravity. Such artificial manipulations only prolong the inevitable, and make financial crashes much harder when they finally do come than they might otherwise have been.
- “An executive order is … a written command issued by the President directing subordinate government officials to take specified actions or implement designated policies.”
[restored 1/19/2023] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Charlotte Twight, America’s Emerging Fascist Economy, (New Rochelle, New York: Arlington House, 1975), 141.
Executive Order 12631—Working Group on Financial Markets | The American Presidency Project
www.presidency.ucsb.edu/documents/executive-order-12631-working-group-financial-markets
Current U.s. National Debt:
