-Gentle Ben's return serve to the WH/Congress side of the court last week, carried a message. No more Fed stimulus bucks, but for the WH/Congress to get the fiscal house in order. Amen to that or these words just political garbage? The WH/Congress could volley back, but they didn't, change your near zero interest rate policy for next two years. It was wrong since Greenspan/Zipper created it in the mid-1990s and its been in effect ever since. Back in Econ 101, it was said the cheap money drives dear money out of existance, and it discourges savings, runs up the plastic money debt. I bet few younger people have a savings account.
-One wonders, what effect last week's earthquate and Irene will have on fiscal matters? I would suggest none. Lets see. These events should not be a back door WH stimulus program, except with other spending cuts. Why should I, the taxpayer, pay for someone's damage or lose of a business or house that is parked in the cross-hairs of past and future hurricanes? That's what insurance is for, admittly expensive, then more. If mother nature wipes out my house, the state or federal governments don't hand out money to me.
Ok, an earthquake is a different matter, it is not predictable, especially on the east coast.
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