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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (132572)	4/2/2013 8:10:04 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Stockman is the quintessential monetary Austrian. He will always be distasteful to anyone who truly believes in neo-Keynesianism, which means most Dems today will never like what Stockman has to say. One thing I am convinced of is that the unholy alliance between the big banks and the Fed needs to end. The Fed needs to be reigned in and the price of money, otherwise known as the interest rate on US debt, needs to float freely. That will allow free markets to begin functioning again and clear out the excesses. If we were really smart we were really smart, then we'd allow competition in currencies and let the best one win. But none of those things will happen, because Bernanke is smarter than almost every politician. Most politicians simply don't have economics background, nor the intellectual heft to understand how Bernanke and the Big Banks are pulling the wool over their eyes. So we'll be mired in this low growth, high unemployment, high debt, and increasing economic and stock market volatility for as far as the eye can see.