Forcing myself to watch clips from Fox News has caused past episodes of inflammation and headaches. That ought to be expected. However, watching this series of clips from Fox News has put me into a depression deeper than our economy's. No, it isn't because it's the usual Fox News BS. It's actually Fox News being made to look more foolish than ever before. It takes about 9 minutes to watch the whole thing, but it will remind you of how dumb most conservative economists have been. Unfortunately, if Peter Schiff is correct, than Obama is continuing down the same failed path that the Republicans went down. That failed path entails borrowing from foreigners, letting foreigners produce everything that we consume, and spending. Many Republicans and nearly all Democrats are saying that due to the already-low interest rate, we can afford to inflate the deficit. Now, before you think Peter Schiff is completely crazy, just watch how dead-on right he was over 2 years ago about where the economy would end up.(the shi^%er)
Now, I agree that some things need to happen. Health-care reform, a greener economy, immigration reform, an exit out of Iraq, a return of commonsense regulations, et cetra. Yet the idea that we will explode the deficit on purpose is sending a cold chill down my spine. Don't get me wrong, I don't think Schiff is God; heck, he was one of Ron Paul's advisers. However, if you watch the video, he seemed to really predict exactly what would happen despite all of the nay-saying from the Faux Newsies.
Someone once said that when you're giving the economy a jump-start, a stimulus, you got to do it at the right moment. Much like with a swing, you wait for the swing to slow down as it leans back and then you shove it. I.E., you wait for it to be at its weakest moment before you try shoving it into a new direction. Either that or you wait for it to start rebounding in that new direction before you shove it. Let's face it; We've poured hundred of billions of dollars on this fire, and it's still raging. PEBO may not be currently calling the shots, but the current strategy seems to be failing as the fundamentals(economic data) of the economy continue to weaken and drag down the stock market with it.
And to think, we still haven't even resolved Detroit. I was clueless about this stuff last year, and I'm still relatively clueless this year. What I do know is what I don't know.