R—: Things seem to be slowing down a bit. It isn’t too hard to see why either. If it isn’t the “oil problem in the Golf”, a change in command in Afghanistan, or some other extremely newsworthy event, little attention is being given the 4.0% solution.
I just read over the status of the new financial reform bill and some comments from supposed experts on the subject. First of all, most experts agree that the bill is probably too complex and doesn’t necessarily deal with the heart of the matter, unless of course you believe there is an issue of the banks being “too big to fail”, which they aren’t.
It’s kind of funny that the even so called experts have bought into the “too big to fail” thing. None of the big banks would have failed without TARP funds. There was no need for bailouts as it was. And yet, that supposedly is the heart of the new financial reform bill, which they say is likely to pass.
I need something to get me spurred into action again, and maybe, just maybe the passing of this financial reform bill will be the thing to get me going. However, it is going to be hard to come up with anything better than my “Open Letter to Independents on Financial Reform”–that is a terrific summary, and i am pleased that you could accommodate it by putting it up on your website. I think the next thing for me to try is to explain a little more about the rationale behind the 4.0% solution more, which is something i might try to do this week.
It just sickens me to see how the U.S. economy is stagnating. It does not necessarily hurt the employed because everything is cheaper these days; however, for the unemployed (and there are many) Bernanke and Gaethner need to go, as do Frank and Dodd. And if Obama doesn’t wisen up on the economy sometime in the next couple of years, he may just have to go too. Trillion dollar Government stimulus packages is not the way to recovery (my friend Tristan has been telling me this for the last couple of years)–business expansion is the way to recovery, and that would happen with a long term, long term rate of 4.0%, which can be justified.
It’s all really quite sad. I wonder where obama is getting his advice. Volcker, Summers, Bernanke, Gaethner, Japan? I wonder. He sure isn’t getting his advice from a globalnomist.
Oh well, Linda and i had a nice Fourth. We have started on the “moving” activities, which pulls me away some from my analytical work, but hopefully i will be able to manage both. It’s probably going to take us a couple of months before we are settled in out in North Carolina, but from there i will be about eight hours closer to DC and who knows, maybe the people in Washington might hear me better from there.