Posted on 08/21/2011 9:05:25 PM PDT by Halfmanhalfamazing
What is Washington waiting for? The inauguration is less than five weeks away: At the rate we’ve been going, another 500,000 jobs will be lost by then. The downward spiral is deepening and accelerating: Congress and the president must act now.
American families have lost about $11 trillion in net worth as securities and home values have plummeted. This translates into about $400 billion less annual consumer spending, net of government safety-net funding. Exports won’t grow to make this up, as the dollar has strengthened with investors worldwide clamoring for its relative security. Investments won’t make up the gap either, as bank loans and secondary-market financing have shrunk and as fresh equity is virtually non-existent.
So this is surely the time for economic stimulus. But — and this is the crucial point — the government can’t just make itself bigger and more oppressive in the guise of stimulating the economy. That would make matters worse. Nor should we forget that fiscal stimulus is but one part of the solution. As Christina Romer, Barack Obama’s designee as chairperson of the Council of Economic Advisors concluded from her study of the Great Depression, bad monetary policy was its greatest cause and good monetary policy was its most effective cure. The Fed should continue to expand the money supply. And, it should confirm that it will not tolerate deflation — the pain of inflation pales in comparison.
Mitt wanted the fed to keep printing more money?
No surprise here. Once a RINO always a RINO. I’m sure McCain and Grahamnesty are drooling over the thought of him getting into the WH
No wonder Myth is the establishment candidate. He sure does like to use their playbook. When in trouble, print cash. No one should be surprised by this.
Has it occurred to ANY of the clowns on the DC circus that JUST MAYBE the reason they are looking at reduced circumstances is because folks have had it with an ever consuming, liberty encroaching Fed Gov? The reality is that while libtards can vote 27 times with absentee ballots they can’t pull ten trillion out of the markets and put it in various metals and such. When enough of “us” go Galt we starve the beast. They can print money for a little while but then it becomes worthless. We may only vote once but we control what matters, our lives!
Governor Daniels was on Meet the Depressed Sunday and said while Perry's choice of words were unfortunate, Perry was right about the Fed printing money with wild abandon.
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