Bernanke to help the economy?
Gentle Ben”s (Bernanke) ability to help the recovery is limited. He understands strategy, tools and timing but so far something is missing, will it work? The CEO of General Motors back in 1948 had three questions he reviewed in the light of any new proposal: 1. Why do this now, 2. Why do it this way and 3. Why do it at all? Ben is willing to act and he has strategy, tools and timing. But will it work? No!
All this stimulus is crazy! We borrow money to solve a debt problem? Any one that has mastered third-grade math can see the problem we have is spending. We spend $2 trillion and have only a $1 trillion income. Two-to-one spending. Actually first-grade math would be adequate. Never mind the first graders who will have to repay this debt; just consult a college educated economist and find that more spending will keep our lifestyle afloat for another generation.
Meanwhile Geithner goes to Europe and tells them to do as we did. Are they that dumb? What do you call a Ponzi scheme on steroids?
Tell the President to just get out of the way and repeal the onerous regulations such as Dodd Frank, health care and all the new job-killing stuff the Administration is implementing. Clearly Obama”s socialist agenda is the priority, not the recovery.
Paul Barker
Kelseyville
