tag:blogger.com,1999:blog-53246864840716464.post1111350238118969424..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: No Wonder the Outlook for the Economy is "Unusually Uncertain" ... the Fed is Killing ItUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-53246864840716464.post-29926451635790223172010-07-22T19:52:54.126-07:002010-07-22T19:52:54.126-07:00This article was doing so well until it started ta...This article was doing so well until it started talking about employment, and specifically forced lending operations by banks. It was credit/money creation that got us into this mess, and forcing banks to lend will keep pumping money and credit into an already fast-inflating money supply. Credit is now falling, and that's all to the good. Ans the power given to Congress by the Constitution is the power to COIN money, not print it. If we allow the government to print greenbacks, they will eventually print more than they have the specie to back it with. Human nature, folks.Ike Hallhttps://www.blogger.com/profile/05632611559466870818noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-35754947125712074182010-07-22T19:48:26.739-07:002010-07-22T19:48:26.739-07:00All of the above is true but involves treating the...All of the above is true but involves treating the symptoms rather than the illness. The illness is US blind ideological adherence to the global free trade myth. We have lost our manufacturing sector creating a balance of payments crisis. The Fed solution? Export securitization; substitute "financial inovation" for manufactured exports; pretend that not having a national economic policy is not a problem. The debt bubble, the housing bubble, the credit bubble and all they entail all involve the expansion of finance at the expense of manufacturing. We have a capital flight problem caused by blind ideological adherence to global laizzez faire economics. The substitute for real exports was "financial innovation." The reluctance the address the problem at its core necessitates commitment to securitization and the export of fraudulent financial products with no inherent economic worth.<br /><br />I propose tariffs of 30 percent on Apple, Hewlett Packard, Intell, AMD, and all other manufacturers booking their revencues overseas for products they sell in the US. Impose a five percent a year tariff on day one, increasing five percent a year until thirty percent is reached at the end of year five. Perhaps this will induce them to return their capital infrastructure to the US. If you wish to sell your goods in the US you must either employ Americans in the US or pay the tariff.<br /><br />OH Heresy! A blasphemer!teouihttps://www.blogger.com/profile/15497132662232687690noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-30024214880909515652010-07-22T14:28:10.820-07:002010-07-22T14:28:10.820-07:00I definitely agree with you that the employment si...I definitely agree with you that the employment situation is getting worse. That whole "unusually uncertain" term is mind blowing to me. It's so double talk meant to confuse and avoid telling the truth. I hate these games.Anonymousnoreply@blogger.com