Quote:
Originally Posted by Guest
By almost every measure the stimulus package, which I assume you are referring to, has been an abysmal failure. And, for all practical purposes, the Fed Fund rate HAS been at zero for the last several years, forcing investors to seek higher returns in the stock market; hence, the increase in the market indices despite an overall decrease in corporate earnings due to a Obama's sluggish economy.
I also think that you may be confusing fiscal policy with monetary policy. Obama has tried to take credit for the results of the Fed's monetary policy on the stock market...policy and action that he had/has NO control over.
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Dear Guest:
I agree. I also believe the FED is out of control. The large investors have been on a sugar high thanks to the FED. While us commoners struggle to gain any capital appreciation, etc given expenses, inflation, etc. We are actually paying banks to hold our money. Its clear that the Keynesian model has failed. Since Obama sticks his nose in everything (think FCC ruling on net neutrality) it my well be he did so with the FED.
The FED along with the IRS, EPA Depts of Energy and Education would be gone if I were emperor. In fact a good house cleaning is what we need at both the federal and state levels
Personal Best Regards: