Posted on 09/03/2009 1:39:20 PM PDT by BenLurkin
The top question in economic circles these days is whether it's time for the government to head for the exits and reign in the stimulus. Both the minutes of the August FOMC meeting and comments from Treasury Secretary Tim Geithner suggest major policymakers think it's too soon to take action.
It's debatable whether the $787 billion stimulus package is really helping the economy, or if the Fed should stop its various and sundry emergency programs, says Charles Ortel, managing director of Newport Value Partners, an independent research firm.
But there's a more fundamental issue at hand: Barack Obama is running "the most anti-market administration in the history of the Republic," says Ortel, expressing a view that's shared by many right-leaning Americans these days.
As evidence, Ortel cited Obama's reliance on House Financial Services Chairman Barney Frank, who recently advocated Fannie Mae and Freddie Mac lower their lending standards for condo buyers. "This is ridiculous stuff and the taxpayers are now saddled with the debt of Fannie Mae and Freddie Mac."
More generally, Ortel cited expectations for higher taxes and a "schizophrenic" policy regarding employment. "We say we want to encourage [hiring] but we pile costs and regulations and uncertainty and risk on the private sector," he says. "The government needs to think carefully about whether it is pro-capitalism or anti-capitalism. We need to step back and understand creating wealth is a good thing."
(Excerpt) Read more at finance.yahoo.com ...
I imagine most communists are anti-market. Even a wannabe third world communist dictator like Obama.
Barry Zero is a LAWYER - not an Economist. As such, when it comes to Economic principles, he does not know his a@@ from 3rd base.
The simple fact is that government cannot create wealth. At best it can subsidize those who can.
Will the average American ever realize the truth about these programs?
1) Nothing is ever free, and all of these “forced discounts” are being purchased ultimately by tax payers.
2) The programs are nothing more than vote buying, an attempt by politicians to give to potential voters the largess of the government treasury in exchange for party loyalty and votes.
3) None of the programs enacted by this Administration are based on sound economic theory, let alone the fact that the results and effects of the programs will not be quantifiable, allowing for politicians to craft misleading and inaccurate conclusions from sparse and unrelated data.
when it comes to constitutional principles, he also does not know his a@@ from 3rd base
From the looks of the comments after the article, I’m not too confident in the American voter anymore.
This country was made great by it’s FREE MARKET, NOT by big gov’t, not by big military, not by anything but our open free market that created wealth for all.
What do you expect from the Dumbest person to EVER enter the whitehouse?
very true.
He just doesn’t know his a@@ from 3rd base period.
shoulda listened to that plumber, Amerika....
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