The U.S. Political leaders have for some time now been taught, and have practiced Keynesian Economics. So they believe that bailouts from the Federal Reserve will solve our current economic crises. Many disagree. So who is right? Well the answer comes to us from the Icelanders in the following Video:
At the time of the 2008 collapse, Iceland was in worse financial shape than almost any other Country. But the Icelanders protested when their leaders wanted to follow the U.S. with bailouts. As a result Iceland did not do bailouts, instead they imprisoned several of the corrupt bankers. Their economy is growing faster than the U.S. or EU. So the evidence is conclusive: Ron Paul and Jim DeMint were correct…”The Federal Reserve is destroying our money system”.
The following to videos explain the difference between Austrian Economics and Keynesian Economics.