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Tuesday, August 14, 2007

FEDS ARE SLEEPING

FEDS ARE SLEEPING

We all know that Nero was playing his fiddle while Rome was burning, but here we have the Feds sleeping while the US stock market with the housing market disintegrates. Every morning I get up expecting the Feds to step up to the plate and correct the problem by decreasing interest rates. But they are not because they cannot because they know no other way than to worry about inflation which is not the thing killing the markets.

The trouble with the Feds is the same trouble there exists in other areas of government. Who is running the show? It is a bunch of career politicians who have never run a successful business or any other entity for that matter. We have had in our country titan families in business where several generations within a family made contributions in the economic arena. Now we have political families who think just because they had one successful member of their family in politics, they too can make a career of it: the Clinton’s, especially the Kennedy’s, perhaps even the Bush families. At least the Bush’s were successful in other areas of their lives, such as business.

It is so unfortunate that we in the US have career politicians whose only success is that they can talk the language of gobble de gook and they have mastered that great dance step – the bureaucratic side step.

To get back to the Nero analogy, both the situation with Nero and Rome and with the Feds and the meltdown of the housing sector in the US were caused by Nero and the Feds respectively. Nero supposedly set Rome on fire to blame the Christians, and we know that the Feds caused the meltdown of the lending market and the subsequent collapse of the housing sector because they know no better. It is true that history repeats itself. Man, we are a part of history!

With my almost daily comment on the Feds, I remain,

nicola michael c. Tauraso, M.D.

p.s. Read my Blog of yesterday and help us out.

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