Obama could try to emulate Reagan by proposing a massive tax cut, but that seems unlikely given the administration’s belief that America is under-taxed right now.A Reichstag moment? You think I'm alarmist. Well, I'm alarmed. Just look at what this president has done. Look at what he says: The Quiet Courage of Our Choice
But there is another way, although it is amazingly risky. A Bloomberg story, using a simulation run by Macroeconomic Advisers predicts a 10 percent decline in the dollar in the first six months of next year would do the following:1. Gross domestic product would rise 1.1 percentage points more than the St. Louis-based firm’s baseline forecast for next year, to 4.8 percent.There you go, Morning in America II, thanks to the weak dollar — unless of course the dollar starts plunging out of control, boosting inflation and creating a panic.
2. In 2012, growth of 5.7 percent would exceed the baseline forecast by 1.3 percentage points.
3. Unemployment would fall to 7 percent by the end of 2012, 1.4 points lower than the firm’s baseline forecast.
Now what will he do next.
Shelby Steele, WSJ:
Barack Obama put the Democrats in the position of forever redeeming a fallen nation rather than leading a great one
Bond Investors Go to War with the Fed - Paul La Monica, CNNMoney
Warning: Retirement Disaster Ahead - Brett Arends, Wall Street Journal
States Face Perpetual Sophie's Choice - Justin Rohrlich, MarketWatch
More. Charles Kadlec, WSJ: Gold vs. The Fed: The Record Is Clear
VOTE your guts out.
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