The dollar is deflating. Economists are more worried about this than the potential effect any stimulus will have on inflation. It would probably be a GOOD thing if the dollar started inflating again because it would mean that aggregate demand was picking up.
And if you were so worried about inflation, why weren't you riding Bush's ass for the last eight years for running deficits like a kid with a stolen credit card? That caused far more inflation than anything Obama has done or will do.
I do agree that there is a lot of bad blood in the banking system and some of them could probably go. But the cause of this recession has been abnormally targeted at banks, so going through with the TARP was a great idea (although certainly could have been better executed) on Bush's part. I stand by his decision. The banking sector is one thing you don't just let go by the wayside. That is how you cause a depression.
And once the economy starts to recover you will see bank socks soar. Ironically, we will probably end up making money off the TARP (offset to some degree by the interest on the money we had to borrow).
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
