Economic stimulus no overnight job

Economic stimulus no overnight job

There are 4 comments on the Lebanon Daily News story from Jan 24, 2008, titled Economic stimulus no overnight job. In it, Lebanon Daily News reports that:

The story of how the failures of the Fed got us into this fix is short and well-understood. The fault belongs to the 18-year tenure of Alan Greenspan as chairman of the Federal Reserve.

Join the discussion below, or Read more at Lebanon Daily News.

ragnar_rahl

Edmonds, WA

#1 Jan 26, 2008
right, the markets were "freed of regulation." Lower interest rates are kind of regulation, and that's what greenspan did. Not exactly per ayn rand :D
Grant Williams

Plano, TX

#2 Jan 27, 2008
Quite a history lesson. Here's some ancient history:

The increased cost of American labor was caused by government intervention (ie: pro-union legislation, OSHA, Social Security, overtime pay, minimum wage laws, etc).

The relatively cheaper cost of foreign labor was caused by government intervention (ie: 100 years of Marx, Lenin, Stalin, and Mao throughout the rest of the world).

The reintroduction of dollars into American financial institutions was caused by government intervention (ie: The very existence of the Federal Reserve, the pragmatic desire to keep America's new, service-oriented work force afloat, whatever the long-term consequences of dealing with an assortment of foreign statists).

The popularity of home ownership was caused by government intervention (ie: religious and cultural attitudes that believe that "The American Dream" is synonomous with home ownership/family means social engineering in the form of tax credits, preferential financial regulations, homestead exemptions, Section 8, etc).

Assuming that Greenspan's stubbornness was the cause of the housing bubble bursting, it was caused by government intervention (ie: If the Fed said one thing and the market smelled another it means that it's impossible for a small cabal of people to predict the intentions and choices of billions - ever - even when they happen to get it right).

Let's lay off of the free market bashing for a little while.
dog lover

Lebanon, PA

#3 Oct 21, 2010
stimulous job is bad right
Stratkat

Los Angeles, CA

#4 Nov 5, 2010

Repeal the FED NOW! We the people should NOT be paying Interest on our OWN money. WTF! What a racket, what a ponzi scheme. Nothing like being robbed in plain sight, for 97 years. Wow. WAKE UP everyone Screem at the top of your Cyber lungs. Instant path of recovery, once we abolish the FED... With the Tea-Party Agenda; I have to say their days are numbered.
On top of that, they should pay back to the American people, every Dime they have collected in Interest since 1913, like any Private company has to when they get caught stealing from their customers, As Ron Paul says: People are waking up!

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