Bottom line on the economy: we need higher interest rates, more savings, and lower prices. As one who commutes nearly 60 miles round trip per day, a gas price approaching $4.00/gallon had me sweating bullets. The price is now falling as QE2 falters. Thanks be to God. But we need incentives to save, not more stimulus.
A more thorough explanation from Christian economist Shawn Ritenour is here:
Foundations of Economics: The Fed Says Let the Bad Times Keep Rollin': "The Federal Open Market Committee announced yesterday that they will keep up record monetary stimulus after QE2 finishes. They correctly see..."
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