No, We Do Not Need a Second Stimulus

Obama Adviser Says U.S. Should Mull Second Stimulus:

(Bloomberg) — The U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small,” said Laura Tyson, an outside adviser to President Barack Obama.

The current plan “will have a positive effect, but the real economy is a sicker patient,” Tyson said in a speech in Singapore today. The package will have a more pronounced impact in the third and fourth quarters, she added, stressing that she was speaking for herself and not the administration.

This idiot should be removed to Japan immediately so she can understand how great that country fared after their bubble and ensuing (and seemingly perpetual) balance sheet recession. Japan tried to prop their economy by increasing debt to GDP but that didn’t help at all. Oh, and Wikipedia says this adviser was a Morgan Stanley director since 1997. Where is MS now? Oh wait, isn’t MS one of those FORMER investment banks (now a traditional bank holding company)? Why anyone would listen to a person associated with an organization that was a party to the global financial crisis is beyond me.

The real reason behind this so-called advice is to make the American people totally dependent on the government. This means politicians and bureaucrats will have more power to hand out political favors and so they can get re-voted into office and to continue collecting special favors and money from lobbyists and business interests. If you like the idea of going to the government for your every need, or you simply insist that the government can spend your money better than you can, please continue to support the petty politicians like Obama, Pelosi, Reid, or really 98% of the people in Congress.

I am becoming more and more convinced that the best solution to our problem of a short-sighted and power-hungry Congress is their ability to run for an unlimited amount of terms. Couple that ability with the power to spend money with abandon (thanks to a complicit Federal Reserve and Treasury Department) and you have a powerful and dangerous organization. I.e., a gangster government to which businesses and individuals must go for special favors or simply to conduct business or simply to protect the rights guaranteed to them by the Constitution.

Thus, in tandem with term limits for Congress persons, I am beginning to believe the Federal Reserve must be abolished. The idea that a collection of academics and economists can shape the economy, set interest rates, prevent booms and busts, makes no sense. Isn’t government control over the economy, government control of the marketplace, of the very place and concept upon which each citizen depends in order to provide for themselves and others, isn’t this just pure socialist communist crap? Isn’t government control of a person’s life and livelihood the ideological enemy against which we continually fought ever since World War II?

For now, I’ve said all that I can say. I think a new goal for me will be to continue to organize my thoughts into a sort of party platform. No, I’m not running for office, but I feel like I’m “partying” by myself and would simply like to see if there are more people out there who agree with me.

P.S.: I’m already thinking back on this post. Consider everything I said to be representative of an idealistic Doug, not so much a pragmatic or realistic Doug.