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I don’t have a pony in this race aside from the fact that I don’t want to live through a Great Depression:

If we do not act, and act soon, we are headed for another Great Depression.

Yikes.

One Response to “Roger Farmer is Worried”

  1. chuck martel says:

    “First: Give the Fed the power to buy a value weighted Exchange Traded Fund that contains every publicly traded stock. Commit to support the ETF by buying stocks. Pay for the shares by borrowing, or by trading Social Security Trust Fund.”

    This is a little like giving every participant in the kids’ bike race a medal but it’s also a guarantee of rewards to corporate management, who give themselves stock options by repurchase programs with the stockholder’s dividends. Management and the finance world like ignoring dividends and tax policy encourages it as well. Rather than use profits for reinvestment or dividends, let’s just use them to repurchase stock and enrich the highest level of corporate employees.

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