All eyes are on our EU friends. Instead, let’s consider the very significant change of view that has occurred here at home, under the radar.
Many of us have known there is little the Fed can do. Now, policy makers are beginning to understand that (a few still feel they have to act like cheerleaders). The market crowd will abandon Bernanke as a god.
Next, there has been an awakening of sorts, even among lay folk. That would be that a planned economy is a failed economy. Hayek is smiling. Obama can’t make those kinds of decisions because no one can.
Thus, and again an awakening of sorts is the (belated) realization on the part of the masses that government spending is at best a wash. Recall the words of FDR’s Treasury Secty. Most, not to be taken in again, suspect that the latest rescue plan is little more than noise.
Finally, the fact that businesses won’t hire because the regulatory and tax outlook is too uncertain rings true with most folk because they have heard it over and over from so many business leaders.
And so there is growing consensus in this country that we must wait for Nov/2012 for substantive change.
Robert Craven
Many of us have known there is little the Fed can do. Now, policy makers are beginning to understand that (a few still feel they have to act like cheerleaders). The market crowd will abandon Bernanke as a god.
Next, there has been an awakening of sorts, even among lay folk. That would be that a planned economy is a failed economy. Hayek is smiling. Obama can’t make those kinds of decisions because no one can.
Thus, and again an awakening of sorts is the (belated) realization on the part of the masses that government spending is at best a wash. Recall the words of FDR’s Treasury Secty. Most, not to be taken in again, suspect that the latest rescue plan is little more than noise.
Finally, the fact that businesses won’t hire because the regulatory and tax outlook is too uncertain rings true with most folk because they have heard it over and over from so many business leaders.
And so there is growing consensus in this country that we must wait for Nov/2012 for substantive change.
Robert Craven
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