We learned this week that Fed Chairman Bernake is looking towards further quantitative easing to try to get the economy going. The Monetarists continue down this path blindly as if one of these times, maybe QE 10 or 11 will be the one that jumpstarts the economy.
Haven't we learned yet? Bank reserves now top $1.5 trillion dollars. This money does not go into business investment if business owners and CEO's fear investment and workforce expansion due the the uncertainty of the cost and the potential loss of favorable tax treatment.
The dollar weakens, oil tops $100 a barrel, Unemployment remains in excess of 8%, and yet we continue to see no leadership our of Washingtion. Maybe they should President should examine his budget with Democratic congressional leaders to start addressing .... wait, I forgot, the Obama regime has never proposed or passed a budget! Why waste time on an activity that would shine the spotlight on the Obama regime adding more to the deficit than all the previous administrations COMBINED!
I guess I have to give it to them that to implement the tools that will work (i.e. lower taxes, favorable tax treatment of capital investment, and a sane approach to health insurance reform), they would need to become Republicans!
Another thing, I am nauseous over Obama's lack of a strong stance against those who defame America and kill Americans abroad. Islamist extremists have been committing acts of atrocity against Americans and our allies for decades. A movie did not cause the latest rounds of murders. These are heartless criminals that have to be held accountable and we have to hold their protectors accountable through the elimination of aid, sanctions, and the very real threat of military action.
Where is Reagan when we need him???
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