>> with market incentives (i.e. tax cuts) being put on the table right now.
Bush tax cuts PERMANENT would be a good move, yes. Corresponding spending cuts would also be good. Pork moratorium WOULD’VE been good, but we elect idiots to Congress for the most part.
>> someone needs to put a freaking muzzle on Barney Frank.
Totally agree. (He might even like it, you know. I hear he’s into that perverted stuff.) His nostrums for the mortgage industry would be an unflagging disaster.
>> The fed needs to show its support of free and sound market
FREE and SOUND markets over the long haul don’t involve government favors or bailouts. Is that what you mean?
An even better solution is to scrap our current progressive tax system for either the Fair Tax or a simplified flat tax system. Not only would it save circa US$400 billion per year in compliance costs, but it would make the USA a very attractive “tax haven” because of none to extremely low taxes on income and capital gains.
Of course. Frankly, I had no idea if Friday was a bad day; I took half the day of to run errands. I didn't know anything was cooking overseas; but I've been posting on various forums, including here, that Bernanke's comments of late are decidedly "top down," neigh almost socialistic in their apparent disregard for individual responsibility and a market's ability to price things properly. I have stated that I believe he either doesn't understand markets (but certainly understands econometrics) quite as well has he should -- and i'm no couch-potato fed basher -- or he is truly desparate.
In fact, I said this.