Chairman Bernanke – Einstein Defined Insanity as: “doing the same thing over and over again and expecting different results.”—Sounds like Fed Policy

In God We Trust-Not In the Fed We Trust

 As they say in the street, MAN UP.  Tell this government that they must:

  • Commit to a self-imposed Balance Budget strategy and support a Balanced Budget Amendment to the Constitution.
  • Enact a tax holiday on all Payroll Taxes for 6 months with a possible 6 month extension.
  • Stop spending taxpayer money on insane schemes, bailouts, pork and on buying up private sector companies.
  • Freeze all new programs including Obamacare until unemployment is under 5%; Real GDP growth is greater than 5%; and the budgets are balanced, including entitlement spending.
  • Put all Government owned companies on the open market block and sell them to the highest bidder within 12 months.
  • Lower or eliminate capital gains tax for the foreseeable future.
  • Lower Income taxes by creating a flat tax and continue the Bush Tax cuts until that happens.
  • Remove ALL taxes that are constricting the growth of the real estate market like caps on Mortgage Interest Deductions.
  • Set aside all regulations that have been enacted since 2000 and impose a moratorium on any new regulations until 2020. 
  • Cut Federal Government agencies by 20% over a three-year period.
  • Place a freeze on Federal Government Hiring until 2020.
  • Commit to a self-imposed Balance Budget strategy and support a Balanced Budget Amendment to the Constitution.  (I know, I have this in the article twice)

Then, put the spotlight on Yourself and the Fed. 

  • Start issuing reports that the general public can understand that deal with every action the Fed is taking.  Remember what Albert Einstein also said:  “If you can’t explain it simply, you don’t understand it well enough.”
  • Issue quarterly reports to the American People, Not Congress, that disclose all Fed actions globally.
  • Put in place a policy whereby any Fed board member cannot return and work for anyone involved on Wall Street or in the Banking Industry for a period of 5 years after they leave the Fed.  We need to cull out all of the Goldman-Sachs employees inside of the Fed.

If the Fed does not assert itself apolitically into policy, then what is the point of having a Fed?  It was created to add stability in the finance and lending markets, not aid and abet ignorance or chicanery from the congress and the white house.  We are no better off today than we were back in 1917 when the Fed was created.  It is just a different group in much bigger and fancier buildings causing the instability.

I do not know how you are going to put the brakes on fast enough when the inevitable inflation starts to hit.  If the economy is still as fragmented as it is today, you can only cause further harm.  The world looks to us for leadership.  Right now it is a pretty sorry sight to behold, especially from within.

RD Pierini

1http://www.usatoday.com/money/economy/2010-10-15-bernanke-aid_N.htm?loc=interstitialskip

Advertisements

2 thoughts on “Chairman Bernanke – Einstein Defined Insanity as: “doing the same thing over and over again and expecting different results.”—Sounds like Fed Policy”

Professionalism is Appreciated

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s