Fisher, Fed Agree with HazZzMat

How's that for prescience? We published a blog entry yesterday criticizing people for trashing the Fed's QE2 stimulus scheme, arguing that like it or not, the Fed is getting absolutely no help from elected officials in waging the battle against the Great Recession and its effects--namely, unemployment and apparent deflation. So what do we see this morning? A comment from Dallas Federal Reserve President Richard Fisher that corroborates our observation:

Dallas Federal Reserve President Richard Fisher said on CNBC that the Fed can't help the economy alone, and that there is "ample liquidity"  in the market that hasn't been put to work.

Fisher also said the Federal Reserve needs the help of fiscal and regulatory authorities if it is to help the US economy grow at a faster pace.

That's pretty much what we said. There really is money out there. Companies just won't spend it to hire people, fearful that this will backfire on their bottom line when the unpredictable but expensive effects of Obamacare start creeping into their collective bottom lines. Government is just sitting there in Washington imposing ridiculous mandates and expenditures while millions of Americans are sitting home unemployed.

The Fed is doing what it can, but it could use a little help from its alleged friends. That's what both Fisher and we are saying. You can say it too this November by voting the socialists out.