Good Morning Blog World

Isn't THIS
kinda like inviting the fox into the hen house? Or is the prez sayin' "Look you broke it... now gotdamit, fix it...."

The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.

From where I sit the problem is two fold..the congress spending money faster than the Fed can print it and the Fed's willingness to print the money. This 'loose money policy' is what has gotten us in the fix we are in.

I have to agree with Senator Coburn on baling out some homeowners.

Sen. Tom Coburn (R-Okla.) said he hoped that "the administration is not into subsidizing stupid behavior. It's one thing to help people who made a rational decision, who were spammed or defrauded. But it's another thing to reward people who thought they were getting something for nothing, and knew what they were getting into."

It is a problem with multiple causes...and all traced back to a congress that spends money like a drunk in a whorehouse. Spending billions more money means borrowing billions more which will farther weaken the dollar...and the weak dollar is what has driven up our price of oil and it is the high cost of energy that is causing the problems. People, it is gonna get worse before it can get better and anyone who promises you they can spend their way to prosperity and believes it is lying to themselves and you.

The only real long term solution to the economic problems is belt tightening...yeah it will be tough on many. But the alternative is that we will have to do it eventually anyway.

The dim-a-crits are gonna try to solve the problem by letting the last round of tax cuts expire...and the irony is that might help some to strengthen the dollar if they would use the new revenue for that instead of spending it on social programs..the same ones that have us in a bind.

Okay folks, I've done my early morning rant. Now I am gonna get out a map and see where I might go to pan for gold or maybe drill a wildcat well..y'all come, heah?