Oh, please not more shovel ready jobs again

The (D)s are saying that the President needs to propose something really big to get people back to work.  Excuse me, but isn’t 5 trillion a pretty big stimulus? Over the last 3 years the Fed has pumped about 2 trillion of paper money into the system, there was 700 B in TARP, there was 874B in ARRA, and the (D)’s also increased fed spending from 20% GDP to 25% GDP. What did we get? A Whole lot of Debt and a lot of inflation and 2 million jobs lost since the ARRA was signed. If you don’t believe the inflation number just look at these commodity prices since BHO inauguration:

Wool up 250%

Coffee up 105%

Copper up 300%

Gasoline up 110%

Jet Fuel up 105%

Beef up 68%

Corn up 78%

Remember what Milton Friedman said, “Inflation is always and everywhere a monetary phenomenon” One of the reasons Bernanke has cringed over a QEIII is that he is afraid that this thing could get away from them and it could go Weimar on us. We can’t continue to borrow 130B a month. We just can’t and that’s all there is to it.