Monday, February 23, 2009

The Certainty Of Worse

The investors, the people who are the real poll on the state of the economy are not investing.  They are betting on the market continuing to go south. . . . Folks, Obama doesn't have it . . . Biden doesn't have it. Reid doesn't have it, Pelosi doesn't have it, Barney Frank doesn't have it.  There is nothing that is going to come along tomorrow and restore the value of your house, replenish your 401(k) and your kids' college fund, take the Dow back to 13 on the way to 15; it isn't there. It could be again, but not with the leadership we have now. 


That sounds right. If the United States government got out of the way, things might get worse before they get better. With the government in the way, we have only the certainty of worse. Washington is engaged in the doomed project of attempting to re-inflate a credit bubble. Can't be done.