The President is once again telling us that we have to “spend our way out of this recession.” Are these guys high on something? What’s their real agenda? If you’re hurting financially the last thing you should do is go max out all of the credit cards! It just doesn’t make sense.
On top of it all, Obama is getting together with Bank CEO’s so that he can lecture them on why they should be lending more. But at the same time bank regulators are telling the banks that they should ramp up their capital and cut back on lending if things start to look even remotely shaky. Additionally, the Federal Reserve is paying interest on excess reserves. Why should banks lend? It’s a risky market right now and they should be playing things conservatively.
Maybe we should just drop money from helicopters like Bernanke suggested and have it over with quickly.
Have you heard the radio ads? I think that message (shop, shop, shop) is coming from the Utah Chamber as well as national channels. Crazy.
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