An Economic 'Plan'? by Thomas Sowell "But history shows that the economy rebounded out of a worse unemployment situation in just two years under Harding, who simply let the market revive on its own, as it had done before, time and time again for more than a century.
"Something similar happened under Ronald Reagan. Unemployment peaked at 9.7 percent early in the Reagan administration. Like Harding and earlier presidents, Reagan did nothing, despite outraged outcries in the media.
"The economy once again revived on its own. Three years later, unemployment was down to 7.2 percent -- and it kept on falling, as the country experienced twenty years of economic growth with low inflation and low unemployment."....
Despite demands that Mitt Romney spell out his plan for reviving the economy, we can only hope that Governor Romney plans to stop the government from intervening in the economy and gumming up the works, so that the economy can recover on its own. (emphasis added)
Good and Bad News from the Fed "...you can make an argument that the declining ability of stimulus to move the needle is a sign that inefficiencies are beginning to accumulate and that the economy has some deeper issues that conventional policy measures aren’t reaching." The American Interest
Bernanke Sucker-Punches Romney Campaign "The Fed's $40 billion-per-month of "quantitative easing" could kick off inflation, led by rising prices in the energy sector -- exacerbated in no small part by Obama's unwillingness to approve the Keystone pipeline, approve domestic drilling, or impose order on the Middle East.
"But Obama will have his second term to finish "transforming" America, and Bernanke will get his reappointment.
"The country will be in very, very deep trouble.
"No matter.
"They'll just blame Bush."
Obama's War on Middle Class: Median Income Lowest Since 1995
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