Charlie Rose

REMant  01/13/2010 02:40 AM Report

The Fed's monetarist policy is just as inflationary as admin's Keynesian fiscal policy. Take, for instance, that the banks, etc are borrowing at near zero and buying Treasuries at 3+ percent, which is simply printing money to fund the govt, fueling an unrealistic rise in financial stocks into the bargain, and in turn pushing up the rest of the mkt, and with it no doubt the feeling among consumers that they can again borrow and spend on it. Does this make for sustainable recovery anymore than the kind of programs Krugman is backing? Re Obama's personal qualities, you have to consider the alternatives, too.