March 09, 2009

Missing the Point

Another bad week or two of economic data. I would really like to get back into the currency game but can't bring myself to with all of the government intervention.

My favorite line as of late is the government wanting to get banks lending again. Does that mean being responsible and making good loans (that is never said), they simply say lending. Does it ever occur to anyone that is what got us into the trouble in the first place. Banks were lending and by so doing they made many bad loans, and we are suffering the consequence of an overinflated market.

As I've said before, at this point we need to go ahead and "reset" the economy, take our lumps and put in a good foundation on which we can build.

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