"For months now, Nobel prize winning economists, eminent educators, individuals in charge of $US TRILLIONS of investment “capital”, and political “authorities” of all sizes, shapes and descriptions have been unanimous in one message. The “system” can be fixed easily. We have discovered that we didn’t print enough money. No problem. Just print more, preferably MUCH more!
Here’s how Christina Romer put it during her speech to the National Press Club: “The only sure-fire ways for policymakers to substantially increase aggregate demand in the short run are for the government to spend more and tax less. ...I desperately hope that policymakers on both sides of the aisle will find a way to finish the job of economic recovery”.
Ms Romer, one of the chief architects of President Obama’s 2009 stimulus package, has resigned her position as the chair of the President’s Council of Economic Advisors, effective on September 3. Once an “authority”, always an “authority” - she is returning to “academe” by returning to her old job as an economics professor at the University of California, Berkeley. While she was there, she was engaged in research on fiscal and monetary policy from the 1930s to the present. Mr Bernanke would approve."
Christina told the truth, so she is gone gone.... Here is a convenient place for the Fed to download some bailout money>>
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