-Ephesians 5:11-13
The metaphor of a single-engine aircraft trying to gain enough airspeed to become airborne comes to mind here. Play with me a little bit: it has too much friction, too much baggage, and way too many non-paying passengers who are looking for a free ride. Question: who’s flying the plane?
Part of me wants the economy to improve and reduce the suffering of millions of people out of work or working only part-time. Part of me wants the economy to tank, successfully sealing Obama’s fate so we can drop him down the memory hole.
The only time money won’t buy a politician is when he isn’t a politician: he’s a statesman. And, being a statesman, he is more concerned about the future of the country than any temporary insertion of funds into his reelection campaign account.
Nope. Not yet. Sorry. Oh, sure, there are some “bottoming noises” that are appearing from time to time, but to get back to normal is going to take years, not months. It’s like trying to run through a room filled with honey – honey provided of course by the federal government in its everlasting, never-ending attempts to manipulate markets to its own ends. Rarely do those ends have anything to do with helping individual citizens.
When Fed Chairman Ben Bernanke speaks on Friday at the Fed’s annual meeting in Jackson Hole, Wyoming, Fed-watchers from around the world will be hanging on his every word, phrase, and nuance for clues. They’ll be listening to hear that the chairman knows what’s happening in the economy, and that if things get worse, he has a plan.
This article, published earlier today, gave me another opportunity to inveigh against the Fed. I was tempted to demolish the thinking behind the Wharton School professor, but I can usually only do one thing at a time in an article. It’s just amazing to me that someone as bright as she obviously is can look at the same situation and come out with totally different conclusions. We can’t both be right, can we?
By jotcreative
By Marie Schuhmacher
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