Double Dip Recessions and What to Do about Them

In stark contrast to a story last week that painted President Fanklin Roosevelt as the greatest U.S. President of all time, a story in today's Washington Post asks if President Obama isn't perhaps following in the same economic missteps that FDR took in the mid to late 1930's. 

By fixating on the debt and stimulus plans, Obama and Congress are overlooking challenges to the economy from taxes, employment and the entrepreneurial environment. President Roosevelt's great error was to ignore such factors -- and the result was that sickening double dip.

Ah, yes, the infamous double dip.  Good when in reference to ice cream consumption, but scary when mentioned in regards to economic patterns.  It's too bad that the author completely shrugs off the fact that the inability of President Obama and Congress to correctly deal with the debt that our nation holds is the poison that continues to strangle our economy.  Economic strategist, and candidate for U.S. Senate in Connecticut, Peter Schiff explains why double dips happen in the first place  in this video from December '09.

Senator Admits He's Clueless

Christopher Dodd, outgoing Connecticut Senator who is retiring after being involved in multiple controversies made the following comments after finalizing details of the new financial overhaul legislation overnight: 

This is about as important as it gets, because it deals with every single aspect of our lives. (source)

 No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done. (source)

Why is the most common recurring theme coming from Washington these days, 'This is very important, but we don't know how it'll work until it's in place"?  America deserves better, Senator!  If finance reform is so important, I think it'd be prudent first of all to involve people who haven't been at the center of the collapse of our economy.  I know it makes it sound like a joke, but it's common sense.  

Secondly, why do major parts of the 2,000 page bill need to be "negotiated in the hallway of the Dirksen Senate Office Building as the clock neared midnight" (source)?  And finally, why aren't you all spending endless hours trying to pass a Federal Budget as required by law instead of adding more regulations that will likely continue to hurt American businesses and markets? 

Congressman Etheridge's Response to His Viral Video

A few hours after becoming today's viral video sensation, Congressman Bob Etheridge released a statement regarding his actions:

I have seen the video posted on several blogs.  I deeply and profoundly regret my reaction and I apologize to all involved.  Throughout my many years of service to the people of North Carolina, I have always tried to treat people from all viewpoints with respect. No matter how intrusive and partisan our politics can become, this does not justify a poor response.  I have and I will always work to promote a civil public discourse.

Congressman, what part of the question was intrusive or partisan?  You were on a sidewalk. You were asked a simple question that wasn't partisan at all, and you responded by assaulting a student.  I'd say that's more than a "poor response" and disproves that you actively work to promote a "civil public discourse."

The Fed should be more transparent

Check out this article written by my favorite Doctor, Rep. Ron Paul.  Paul argues for more transparency from the Fed, and gives reasons why HR 1207 is an important piece of legislation.

For nearly 100 years the Federal Reserve has operated largely in the shadows. The Fed’s monetary policy operations, including open-market operations and agreements with foreign governments and central banks, are exempt from audit by the Government Accountability Office.

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