Kemp-Roth was always a Trojan horse to bring down the top rate.

Insanity has infected all the central banks of the world.

A veritable incubator of short cuts, schemes and devices to overcome the truth.

Kemp-Roth was always a Trojan horse to bring down the top rate.

Main Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on.

Then, when the Fed's fire hoses started spraying an elephant soup of liquidity injections in every direction, and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Streetm and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.

I'm just not going to spend a lot of political capital solving some other guy's problem in 2010.