No one can accuse the Federal Reserve, and especially its chairman Ben Bernanke, of complacency during the recent economic crisis and recession. The Fed has pushed the envelope aggressively, and its interventionist ways have surprised and fascinated observers of the banking system. Trouble is, it just doesn’t seem to be working for ordinary people, however successful the Fed might have been in propping up Wall Street and the major banks.
Structural, long-term unemployment is worse than it has been in a long, long time. And one of the reasons is that the banking system is not delivering credit to the reliable creators of jobs- entrepreneurs and small businesses. The Fed’s policies may be putting a floor under asset prices, especially real estate. But they are not delivering the goods on the employment front. Catherine Mann, a professor at Brandeis University and a former Federal Reserve economist, highlights this phenomenon on Bloomberg Television.
Just a quick not to let you know that Citizens4Cain.com is now live!
Please take a minute to go over and check it out – register – sign our mailing list and help us build a grassroots army dedicated to getting Herman Cain the GOP nomination in 2012.
There are two crises facing Social Security. First the program has a gigantic unfunded liability, largely thanks to demographics. Second, the program is a very bad deal for younger workers, making them pay record amounts of tax in exchange for comparatively meager benefits. This video explains how personal accounts can solve both problems, and also notes that nations as varied as Australia, Chile, Sweden, and Hong Kong have implemented this pro-growth reform. www.freedomandprosperity.org