Wednesday, February 25, 2009
Stop Helping Already!
It seems that every time somebody in Washington, D.C. opens his mouth to even sneeze a thought about how to help the economy, the stock market takes a dive. Why is this?! Every kind act, every bailout, every new government-sponsored policy seems to be met by "the market" with skepticism, worry, and doubt, so much so that the market always seems to decline immediately thereafter. In fact, yesterday's big climb was reportedly directly related to the fact that Ben Bernanke (the Chairman of the Federal Reserve) specifically told us what the government wouldn't do to "help" us (nationalize banks). So, it seems the best answer to fix the economy doesn't seem to lie in big government spending, or new programs, or additional oversight ... the best fix that I think Washington could provide to the U.S. economy is ... drum roll please ... to: stop helping!!