Headline this pm: "Japan Stock Futures Drop as Bernanke Gives no Hint of New Stimulus." Indeed, the Fed flooding has inflated equities. It has accomplished little else, certainly not its objective.
Central planning never works. North Korea comes to mind. So does the USSR. But we all know that, don’t we? QE II has been a non ruled-based, discretionary activity; it represents a hunch of a few individuals with the muscle - but not mandate - to interfere with a free market. It has contributed to our problem. Obama’s stimulus is a fellow traveler. As we predicted early on, both were failures.
Robert Craven
Central planning never works. North Korea comes to mind. So does the USSR. But we all know that, don’t we? QE II has been a non ruled-based, discretionary activity; it represents a hunch of a few individuals with the muscle - but not mandate - to interfere with a free market. It has contributed to our problem. Obama’s stimulus is a fellow traveler. As we predicted early on, both were failures.
Robert Craven
No comments:
Post a Comment