Wrong fix for 'Titanic' problem
Letter to the Editor
By Inman News, Friday, October 15, 2010.Re: ' "Robo signing" scandal kills notary bill' (Oct. 8)
Dear Editor:
As usual, the Obama administration uses its best efforts to get behind a problem instead of in front. Instead of recognizing a nationwide crisis precipitated by toxic documents, the administration tries to make political capital by vetoing an electronic notarization bill.
This is like moving deck chairs while the Titanic is sinking.
Richard F. Kessler
Documentary Clearing House and Associates LLC
Sarasota, Fla.
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Submitted by Richard Michael Abraham on December 14, 2010 - 8:14am.
Economists Mostly Soothsayers
QE2 is backfiring as interest rates go up and not down. Similar distortions will result from the current likely passing of the tax bill.
Economists generally wait for economic signals to surface and then make their predictions. Rarely, do they know anything more the the common man or woman. I do not seek to disparage economists but rather to illustrate the laws of natural consequence.
The FED and the U.S. Government, and Wall Street have been spinning recovery for so long that the impetus is gone. They have been overt and obvious and that is when the economy will react opposite to their intentions.
Telegraphing the results sought by implementing QE2 or Tax Plans is self defeating. Improvement is likely, but a host of unintended results will outweigh the intended benefits.
This contrarian view will prove itself in the months to come, more likely at the tail end when the negative consequences of market and economic manipulation will be most felt.
Economists can't use historical charts to predict the economic future anymore because the present economy is unlike any other before. Unemployment and a wretched housing market, linchpins in American society are just conversational pieces today but indeed, historically were unrivaled benchmarks.
What is taking place is the blind are indeed leading the blind. One "Hail Mary" pass after another. Doesn't work that way.
Presently, expect the hoopla to bring immediate positive results, followed by a general collapse that perils the United States' economic foundation.
Too much manipulation, spin, hype, failed ideas, new ideas, never ending cascade of "Hail Mary" passes. Unintended consequences will shut the system down because soothsaying does not work.
Warmest,
Richard Michael Abraham, Founder
The REDI Foundation
http://www.redii.org