The U.S. economy is amazingly resilient, but it can only carry so much dead weight in the form of government taxes, policy and regulations before something has to give. The current administration and the Federal Reserve Bank continue to throw gasoline on the fires of recession, burning up business growth and precious jobs.
While this occurs in in any administration, the economy eventually quenches the fire and things get back in balance after a year or so. With this administration, however, the fire is out of control and by either incompetence or design, they continue to feed a fire from which the economy cannot easily recover.
It all seems to stem from a complete lack of business common sense pioneered by Democrat Party legislation and mandates filled with political correctness and social engineering. By requiring banks to engage in risky loan practices, and masking the problem, the mountain of worthless paper finally precipitated our current financial crisis.
So the Federal Reserve encourages more risk? Read it here:
“Meanwhile the Federal Reserve is urging the banks to go on taking risks. It has been injecting cash into the banking system for the past half-year while urging bank CEOs in confidential chats to offer more credit. The aim is to keep on financing consumer spending and even to stimulate it further — for reasons of patriotism. There’s a word for this policy — madness.” (Source: www.spiegel.de from 4-14-2008)
Patriotic or not, common sense tells us not to take unnecessary risk in uncertain economic times. In spite of huge injections of cash into the economy in the form of stimulus and recovery legislation the administration has not been able to convey economic stability. Instead they keep throwing gasoline on the fire!
While the FED emphasizes patriotism, the Vice President inspires confidence with this quote: “Just becaust the Recovery Act was a monumental failure, does not mean that it is not working.” Businesses beware when the Federal Reserve Bank meets. Will Rogers is right, again!
Image Information: This image shows Will Rogers holding his son, and at the same time spinning his lasso around them both.
The image was taken directly from pictures at the Will Rogers Memorial Museum archive. I apologize for the quality of the image, but this is exactly what the 1920s photo looked like when I scanned it. In the hundreds of images contained in this iPhone application, I wanted to share as many different Will Rogers photos as possible from as wide a variety of times and situations – movies, cowboy, vaudeville, with famous people, and family scenes.
Will Rogers is a man worth remembering, and quoting. His wit, humor and insight into life will amaze and astonish you. His life will inspire you. Watch for new blog posts from my Will Rogers quotes collection.
I hope you have enjoyed this quote from Will Rogers and the accompanying image taken from the Will Rogers iPhone app. Please visit our blog, twitter, or Facebook page regularly and pass these posts on to friends that might enjoy a bit of wisdom from Will Rogers.
