Two wrongs don't make a right, but three rights do make a left.
Friday, August 03, 2007
Psst! Psst! Hey Ben!
CNN Money thinks you need to consider a rate cut. I disagree: you should have thought about one six months ago.
Look, I took three semesters of Economics, so I'm just as qualified as you are to speak on the subject. I understand that you're worried about inflation, and you're a man of principle. The problem is in our production function: government spending is crowding-out regular investment. When that started a few years back, we just printed more money. Now our money is damn-near worthless.
Here's the rub though: this isn't 1981, and we don't need to take our medicine after the 1970s caught up with us. I see more and more comparisons between Bush and Nixon every day, but he's too stupid to play with fiscal and monetary policy to appease Americans. Polls keep showing we don't like the guy, and he doesn't care...reciprocity at its finest.
Sure, we can't just start printing money to offset the fuck-storm of debt that we're racking up while playing war, but you can't make every douche bag whose over-extended default on their house/car/credit card because you want to be a dilettante among economists.
Grow up, cut rates a quarter point, and let us fucking breathe already. If you think the big G in the producer function is the problem, man-up and say so.