Worst Idea . . . Ever

In Friday’s (June 20th) edition of the Wichita Eagle, a small 2-inch column buried in the back of the local section mentioned one of the worst financial ideas ever. Read it here. If you’ve read any of my articles on the economy, you know that I believe the Federal Reserve is completely mishandling our current economic crisis, as they have done since the e-bubble burst early this century. The idea of giving them even more powers to tinker with the economy is a prescription for only more trouble.

It is the height of human arrogance to believe that a select few “geniuses” can manipulate the entire country’s economic system to ensure no more gaffs like those that lead to the Great depression. Maybe I’m too much of a pie-in-the-sky conservative, but I think we would all be better off in the long run if the Feds would just leaves us alone! You have to fail in order to succeed. This ain’t 1st grade tee ball where everyone batts and everyone gets an award. The economy is real life. You can’t prop up the losers at the expense of the winners.

Oh, and you can take that same idea and apply it to social programs as well.