answer to failure is do even more of the same.....

So with one swoop of the pen in a huge leap back wards the single greatest achievement of the Clinton Administration ie...welfare reform ,is done away with in the "stimulus package".
Poor Bill looks like the stain on the blue dress will be his only lasting legacy .

A 700 plus billion dollar bacon, eggs and cheese massive government intervention in an already crippled economy looks like a sure fire failure from the get go. As the cover of Newsweek pointed out so eloquently "we are all socialists now" and as I have remarked often on this blog yes with the 70's generation firmly in charge and reshaping the world in its own likeness., and yes they are really a bunch of communist's now as they were then . It is a generation that neither realized the fruits of the free market nor experienced free market prosperity in action.

Past government interventions of any sizable magnitude have all ended in utter failure and this one starting with the initial TARP funds from the Bush administration has failed at every single step of the way ,but in the infinite wisdom of all bureaucrats the answer to failure is do even more of the same .

You don’t have to be a college graduate to figure this one out.

So the worst 2 day sell after a presidential election and still investors wonder why, well folks its simple:

The new administration has talked about higher corporate taxes; higher personal income taxes; higher capital gains taxes; higher taxes on dividends and a government take over of 401k plans. You don’t have to be a college graduate to figure this one out.

Look for the new administrations choices of economic advisors and key fiscal appointees to divine the leadership direction from the campaign rhetoric. No one seems to have any clue how President Obama will govern. Will he as critics claim lean far to the left and sit down with Hugo Chaves or will he embrace the Clinton legacy and push hard toward the center pursuing free trade and welfare reform and perhaps even some tax cuts?

The perception by many is that he is a smooth talking good looking empty suite who will be filled with the ideas of his big money supporters and there proxies. Again critics assert that it’s more likely the views of Weatherman Bill Ayers and his ilk that have the most influence President Obama again the key is his choices of his key economic advisors.

There is also a third possibility which harkens back to the Carter Era when and aggressive congress confronted a weak inexperienced President. President Obama for sure lacks experience but I am not sure this Congress is either smart or shrewd enough to run the show.

The other key issue is energy policy for if the new administration harkens back to a conservation at all cost philosophy instead of a focusing on the discovery and promotion of new resources I fear we will very quickly see the return of vastly higher energy prices due to constrained supply.