They can raise the debt ceiling and act as if K2 summit has been reached, this is as hollow a victory as one could get. NO issues were resolved, only put off again! No solutions offered, no comprimises to be found or offered. We are again at the crossroads of bigger gov't and a loss of freedoms, higher taxation, OR smaller gov't ( or at least one that won't add another layer) and a resolve to keep more money in your hands, so YOU can decide where to spend, not the gov't.
NAME ME ONE THING once the gov;t gains control that is better off then before they intervened?
It will cost more, it will get f'd up!
How many gov't employees does it take to change a light bulb....
"However, when an economy is excessively over-indebted and disinflationary factors force central banks to cut overnight interest rates to as close to zero as possible, central bank policy is powerless to further move inflation or growth metrics. The periods between 1927 and 1939 in the U.S. (and elsewhere), and from 1989 to the present in Japan, are clear examples of the impotence of central bank policy actions during periods of over-indebtedness.
Four considerations suggest the Fed will continue to be unsuccessful in engineering increasing growth and higher inflation with their continuation of the current program of Large Scale Asset Purchases (LSAP):
- First, the Fed's forecasts have consistently been too optimistic, which indicates that their knowledge of how LSAP operates is flawed. LSAP obviously is not working in the way they had hoped, and they are unable to make needed course corrections.
- Second, debt levels in the U.S. are so excessive that monetary policy's traditional transmission mechanism is broken.
- Third, recent scholarly studies, all employing different rigorous analytical methods, indicate LSAP is ineffective.
- Fourth, the velocity of money has slumped, and that trend will continue—which deprives the Fed of the ability to have a measurable influence on aggregate economic activity and is an alternative way of confirming the validity of the aforementioned academic studies."
"The QE-enhanced 2013 version of “how crazy do things get?” is outshining even the 1999 speculative melee. "