Wednesday, July 14, 2010

One Hundred Five: How To Stimulate Irresponsible Spending

This is a headline from today's business news:

Fed discussed steps to bolster sputtering recovery
Fed officials weighed steps to bolster recovery; lowers economic growth forecasts


After twenty plus years of conspicuous consumption in this country, we have experienced a severe recession, with unemployment topping out at over 10 percent, retirement portfolios decimated, and interest rates at zero for those of us who still have cash to invest. And all the geniuses who are in charge of our economy can come up with is to threaten to give away more money unless the morons who have alerady spent everything they had return to their irresponsible ways.

This is lunacy