November 04, 2010
– Comments (2)
Zerohedge with the find "I think the Fed is injecting high grade monetary heroin into the financial system of the world, and one of these days it is going to kill the patient."
That's right - we should NOT extend those tax cuts!
I can't wait for Ron Paul to be head of the subcommittee in charge of the Fed!
"The Fed is telling a lot of lies to the market." For great justice, what a truth! That's exactly what manipulating interest rates do.
He's wrong on not wanting to extend the tax cuts, but not by far. It is more *honest* to tax more now to cover the current spending, whereas deficit spending *hides* the cost, putting it onto future generations (or defaulting some time before that, defrauding bond holders). But that assumes the lie that current spending is good. It is not. It is the spending that is immoral, so taxing to cover it is also immoral.
Washington has a spending problem, not a revenue problem.