But when I'm not playing social contrarian I do like to make a few honest bucks off the stock market, just like my man Jim Cramer over there at CNBC. Cramer certainly supports Ben Bernanke and the Fed's second phase of quantitative easing and as investor I do too and so should you.
So, we should let our government buy and control more companies like they do in countries like France, Italy, or Germany?! Not a good idea IMO.
No offense to Jim Cramer and his Goldman Sachs mouth, but I much prefer the logic of real, world-renown economists like Melchior Palyi who characterize quantitative easing as "a sort of Santa Claus to the economic system" that can lead to "runaway inflation" and a concentration of too much power in too few hands.
Mr. Palyi (chief economic adviser to the German central bank the during financial reconstruction of Germany after the hyperinflation of the early 1920's) was fond of saying that sooner or later, too much credit always turns into a giant debit as borrowers crumple under the burden of escalating interest payments. And that's a warning this entire country would do well to heed right now.
Btw: 45 days until the New Year and investors have no idea what next year's new tax rates will be.
