Archive for the ‘Economy’ tag
It surely sounds familiar
When I was reading this I could not avoid make the reference to the “Blame the speculators” trend among the Presidential candidates here:
Zimbabwe announced Wednesday that it is knocking 10 zeros off its hyper-inflated currency — a move that turns 10 billion dollars into one.
[...]
“Entrepreneurs across the board, don’t drive us further,” Mugabe warned in a nationally televised address after the currency announcement. “If you drive us even more, we will impose emergency measures. … They can be tough rules.”
I only wonder who should be more worried from the comparison - Mugabe or McCain and Obama…
Prior knowledge is not a requirement
How can one reconcile this statement:
“We need a president who can restore our confidence,” she said. “We need a president who is ready on Day 1 to be commander in chief of our economy.”
with this:
When asked why she’d appoint Alan Greenspan to a working group of financial leaders to design a response to the housing crisis, Clinton told the Philadelphia Daily News:
"Not only that, but the Fed didn’t act while he was there. But he has a calming influence still to this day on Wall Street — don’t ask me why because I never understand what he’s saying – but nevertheless people respond to that Delphic oracle approach. I think it would be wise to include him. And recently he’s come out and vert smartly so [sic] that we have to deal with housing and maybe we need to have some kind of buyout mechanism for mortgages. So he’s moved on his understanding and depth of the problem — but you know you could pick three others.
I guess that commanding the economy has nothing to do with actually understanding the monetary policies the central bank implements…. 
As a side note, and it isn’t only semantic - someone should explain the entire cadre of candidates that the President is not the commander in chief of the economy, nor the commander in chief of the country. The President is mere commander in chief of the Army, which is a lot of responsibility by itself. The country, its citizens and the economy have no commanders.
Stimulus on my expense
We are probably aren’t eligible for the tax refund that intend to be the major act to stimulus the economy. On the one hand this isn’t a bad news to earn more than other, being on a higher level of earning is a great thing - mostly when one want to buy things (and stimulus the economy ). But I have to wander how taking from me and giving to other will stimulus the economy better than let me spend my own hard earn money to begin with?