OK, gentlemen, you are totally out of ammo. Set for a spell. You have both failed, and more of the same ain’t gonna do anything: perhaps you have heard the old saw that stupidity is doing the same thing over and over, and expecting a different result?
You, Mr. O, have proven once and for all that fiscal stimulus has little, if any, effect on macroeconomics. You have jacked up the federal budget and the deficit to record levels, all to no avail. Yes, I know: you are scheduled to announce to a fatigued and unemployed nation that you have a new plan to fix things. Forgive my skepticism that you will announce more of the same.
You, Helicopter Ben, have used up every tool in the Fed’s toolbox, not to mention a few I had never heard of before. Like Mr. O, you have proved the relative impotence of the effect of monetary policy on macroeconomics. Borrowing money is now around 0.25%, i.e. free money to lend, yet this has had imperceptible results.
It is finally time for both of you to surrender to the invisible hand of capitalism. I can tell by your respective actions that you have not read the Wealth of Nations recently, so I suggest that you do so now while enjoying a cocktail. As an American who cares about my country, I beg you: let the economy heal itself. If you are in a hole, stop digging. The scab will never heal if you keep picking at it. And any other stupid cliche I can think of.
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