Saturday, March 29, 2008

Fed Up With the Fed

So the president wishes more power to the Federal Reserve. In his view, this will enable the Fed to manage the economy better and prevent bubbles, recessions, inflation, etc.

Among the major problems with this is the glaring fact that the Fed is responsible for the lion's share of our economic woes. It's just like his brilliant scheme to save the economy by spending even more money, thereby further weakening the dollar and thus damaging the economy.

While it's not evidence, I have a few comparisons that serve, in the least, as food for thought. Based upon his "logic," the president would recommend that

--a fat man eat more and exercise less.
--Michael Jackson quit the entertainment industry and teach sixth grade instead.
--since the war in Iraq is not winnable, we send in more troops.
--doctors cure a heroin addict by facilitating his access to heroin.

Seriously, the Fed is corrupt, anti-American, and operates contrary to the natural laws of economics. Don't enhance its powers. Abolish it.

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