Bernanke Opens The Spigots
I’ve taken a deep breath since the Fed announcement of QE III and no longer care whether or not The Ben has a bumper sticker supporting Obama/Biden on the bumper of The Benmobile. I can’t stop the man, so the deeper question is one of whether he has improved my existence or made it worse. I disagree with many here and opine that QE III will make America a worse place in three respects. It will make us all more susceptible to moral hazard, it will make politicians less accountable, and it will fail in its stated objective of ever improving unemployment.
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Does Our Government Now Hate American Cities?
Internal Revenue Service data from 2009 shows that 58% of all of the tax-exempt interest reported to the IRS was from individuals with incomes of $200,000 or higher. (Bondbuyer.com) In recent weeks, The Federal Reserve and the so-called Obama Administration have teamed up to restrict the ability of American Municipalities to finance long-term, necessary infrastructure projects. Of course, this was neither the stated, nor the | Read More »
Decoding the Objectives of the Fed’s QE2
It’s been clear enough to everyone with eyes that the most visible effect of the Fed’s QE2 program would be to inflate the stock market, and possibly (because of the weaker dollar) commodities too. A view is starting to emerge that this is what Bernanke actually had in mind. Creating a huge amount of new "bank money" obviously did nothing to stimulate the creation of | Read More »