Wednesday, June 30, 2010

Why Is the Recovery So Painfully Slow?

Here, Professor Allan Meltzer explains patiently and thoroughly why BHO's economic policies are a complete and utter failure.  One really has to wonder why BHO and his economic advisers are so ignorant of history.  One also has to wonder why we the people would elect a president so enamored with economic policies that all of history shows are flawed.  Logic shows the same, by the way.

As I have written in this space on more than one occasion, here and here for example, recessions are caused by large numbers of businesses and consumers making poor decisions simultaneously. Recessions are sustained by a continuing climate of uncertainty and fear of the next shoe falling.  Anyone care to guess about what can cause a continuing climate of uncertainty and fear?  Professor Meltzer explains it well.

Monday, June 28, 2010

The Financial Beat Goes On

From the WSJ,
President Obama hailed the financial bill that House-Senate negotiators finally vouchsafed at 5:40 a.m. Friday, and no wonder. The bill represents the triumph of the very regulators and Congressmen who did so much to foment the financial panic, giving them vast new discretion over every corner of American financial markets.

Simply amazing. When regulation and regulators fail, the answer is more regulation?   I guess most of us are just too busy keeping body and soul together to object to the insanity.

I would write more, but I already did, here, here, here, here, and  here.  Is there much more to say?