Comments (7)

• Fred

  America has no monopoly on genius. Listening to Business News Network (BNN), the Canadian business news channel and our nationalized radio station, CBC, provides ample evidence that Keynesianism and interventionism is very much alive and has many champions in Canada. The talking heads routinely call for deficit spending, more government assisted housing and on and on. America may be the home of the "free" and the brave. Free no, brave yes. Canada is the true north strong and "free". Free no, strong yes. Americans must be brave and Canadians must be strong to survive day to day in the midst of so much genius.

  Published: October 7, 2008 10:08 AM

• Sukrit

  As an Australian born in India, I'm constantly amazed at the intellectual talent in America. You guys lead the world in almost every discipline, without question. It must be because of the weird and wacky experiment with free markets and individual liberty, that few other countries have trialled to the same extent.

  Yet, conversely, the American ordinary public seems to be extremely stupid and full of testosterone (hence invading countries with no thought to the consequences).

  Published: October 7, 2008 2:42 PM

• Christopher Hightower

  The Fed should pack up their bags and go on recess for the winter. Or better yet, forever! If they just shut down their doors tomorrow, I'm pretty sure we'd be better off with NO SYSTEM.

  As far as the general public is concerned. I think most view people talking about The Federal Reserve, as conspiracy nuts.

  Much education is needed.

  Published: October 7, 2008 3:26 PM

• Bruce Koerber

  Ben Bernanke is far, far from clueless. He knows exactly what he is doing. The problem, and why he is so full of anxiety, is that he is just a pawn (by his own ego-driven choice) of the unConstitutional coup and he knows that the moves he is making on the 'chessboard of tyranny' are easily trumped by the market powers. The only hope for the usurpers of the Constitution is to cheat and lie but more and more people are watching the chess game, it is even on the world stage!

  At some point their only option will be to flip the table and declare themselves the victor!

  That is when liberty will rise up and seize Bernanke and his overlords by their forelocks and put them in prison! (It appears that Paulson and Bernanke and Khashkari are trying to make it difficult to grab them by the forelock!)

  Published: October 7, 2008 3:28 PM

• Dick Fox

  From the spring through the summer the FFR was 2% and the overnight rate almost hit it right on. Since September 19 the overnight rate has averaged 1.36%. I think the FFR rate cut has already come Bernanke just forgot to tell everyone.

  Published: October 7, 2008 4:16 PM

• Sukrit

  If they want to stimulate the economy, they should be cutting TAXES, not the interest rate. Which is why I was disappointed to learn that the Cato Institute is supporting a policy of more inflation (although they oppose the bailout).
  

  Published: October 7, 2008 8:13 PM

• Stanley Pinchak

  Sukrit,
  That is not productive unless govenmental expenditures are concomitantly reduced. Read George Reisman's article on anti-Obamanomics for more info on why deficit tax cuts are counterproductive. Perhaps you were assuming that these would be balanced by governmental cuts, if so, I apologize, but will keep the comment for the novice reader.

  Published: October 7, 2008 8:24 PM