Helicopter Ben Bernanke's Federal Reserve is dropping trillions of fresh paper dollars on the world economy, the President of the United States is cracking jokes on late-night comedy shows, his energy minister is threatening a trade war over carbon emissions, his treasury secretary is dithering over a banking reform program amid rising concerns over his competence and a monumentally dysfunctional U. S. Congress is launching another public jihad against corporations and bankers.Peter Foster’s take on Obama’s Secretary of Energy, Steven Chu, and his climate protectionism:
Like so many of President Obama’s other choices for his cabinet, Mr. Chu is turning out to be a disaster, both for his quasi-religious belief in global warming pseudo-science and for his Do-It-Yourself economics. Meanwhile he doesn’t seem to know much about energy beyond his own research cul-de-sac of solar, wind and biofuels.And Mark Steyn on the implications of Congress taxing back those AIG bonuses:
I mean, it is a ludicrous, piffling, trivial matter with huge implications, which is to say that these Senators and Congressmen who are effectively demanding these bonuses be returned, and have passed what is, I regard, as an unconstitutional bill of attainder, they are making it less likely that we will ever recover a normal business environment, because they’re saying effectively that America is now a banana republic, that we’re a land where contract means nothing, even if the contract clause is one that Dodd and these other buffoons have specifically voted for just a couple of weeks ago.It certainly seems like Obama and his people are driving America in the wrong direction. Let’s hope not because if so, so goes the rest of the world.