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Errata from the Book

Thursday, September 5, 2013

In my book "Community Conservatives and the Future: The Secret to Winning the Hearts and Minds of the Next Conservative Generation" I incorrectly identify the end of the Iranian Hostage Crisis as January 19th, 1980.  The correct date is January 20th, 1981.  The central point, though, is to note the entirely different strategic calculations on the part of the Iranians as Reagan was poised to take office.

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  1. In Chapter 5 I refer to the creation of new money "suppressing the value..." of bonds by way of the interest rate. I should have just said "suppressing the interest rates". Interest and price move inversely to each other in bonds. As the "price" of the bond goes down, the interest rates go up. So by suppressing the interest rates, the Fed has been propping up the price... just as that bidder on Storage Wars bids up the abandoned unit just because he can.

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