Wednesday, October 08, 2008

Printing Press Pelosi says "Turn 'em on!"

While Nancy Pelosi demonstrates she has no idea what's happening with the market:

House Speaker Nancy Pelosi said Wednesday that a $150 billion economic stimulus plan is needed now because of the faltering economy and she may call the House into session after the election to pass it. (AP, By COLLEEN SLEVIN)

And Helicopter Ben proves he has nine lives since he keeps crashing and burning:

Wall Street bounced higher and lower Wednesday trying to make up its mind about an unprecedented coordinated interest rate cut by central banks around the world. In the end it settled on a familiar feeling - fear - and plunged again. (AP, By JEANNINE AVERSA)

Ron Paul isn't the only person who saw this mess coming:

"Some mechanism has got to be in place that restricts the amount of money which is produced - either a gold standard or currency board or something of that nature - because unless you do that all of history suggests that inflation will take hold with very deleterious effects on economic activity." - former Fed Chairman Alan Greenspan, October 2007

And here's one more news flash:

Printing more money won't fix the problem.

Tim White

1 comment:

Anonymous said...

I wish it was that easy for me.
I can't afford to pay all my bills, so I will print more money to cover them.
We raise our children to believe that money doesn't grow on trees, now we have to make an addendum to that and say "except in Washington".