Well, Barack Obama will be President for a second term. It is now time to take a look around, and prepare for what is likely to happen next. Based on my observations and what I’ve learned over the years, these are my predictions:
No Housing Recovery
Commentators have been calling the bottom of the housing market – and screaming with increasing urgency that it was time to buy – since 2007. The Fed has cut interest rates to nearly zero, and through quantitative easing has flooded the financial system with new money. This will continue for the near future, especially since QE-infinity was announced earlier this year. There remains no recovery in the housing market, and there won’t be a recovery.
Bad monetary policy has …
The following is an op-ed I wrote some time ago that was edited slightly and then published by the Des Moines Register. After turning on the television, which was tuned to MTV, while babysitting my young niece and nephew recently I was reminded how unfortunately relevant this piece still is. The sections which are redacted below are ones that the Register was uncomfortable printing. This perhaps make the point most poignantly.
The following words were spoken on the floor of the U.S senate by Illinois Senator Dick Durbin in the heat of the recent debate on The Fairness Doctrine:
It takes away the authority of the Federal Communications Commission to basically determine that radio and television stations use their Federal licenses in the public
The shooting in at a Tucson political meeting Saturday was abhorrent. We are praying for the injured and the families of those who died.
And for the young man who thought this was somehow an answer to our nation’s problems.
Gabrielle Giffords did nothing to deserve this or any violent attack. I don’t know a lot about the Arizona congresswoman, but in briefly reviewing her web site, I’m struck by the fact that she has been driving a campaign for fiscal restraint, including reducing Congressional pay. At the moment, I see her as one of the good guys. But even people like Barney Frank and Charlie Rangel do not deserve to be attacked violently.
It seems that the shooter is possibly a deranged conspiracy theorist. …