The American revolutionaries created a decentralized, locally controlled polity for a reason. Abolishing federalism to achieve short-term political ends is a reckless way to go.
Economic growth results from increasing production, and the money supply is always sufficient to foster exchange. The boom-bust cycle only occurs when production is distorted by a growing money supply.
Ludwig von Mises was called several names and epithets in his life, by his admirers and enemies alike, but a little-known one is the "sunny pessimist."
