QE3--Same Flawed Approach, Different Dollar

"Printing money is not a panacea for the ailing U.S. economy. The unemployment/slow growth quandary is due to structural problems and to policy uncertainty, not to the lack of monetary stimulus. High marginal tax rates, especially on capital, uncertainty about pension and health care costs, and the lack of rules in the formation of monetary and fiscal policy have disrupted the normal course of commerce. In particular, by keeping interest rates too low for too long, the Federal Reserve...has underpriced credit and increased risk taking, fueling asset bubbles in the bond and commodity markets."


We have but one logical move at this point to re-invigorate the economy: End the Fed.