Forced Lending To Undermine the Economy

The banks have a great amount of excess reserves at present that have been created by the central bank, the Fed. The government wants the banks to make more loans based upon these excess reserves. The government wants to set in motion yet another credit-induced boom. It wants bankers to abandon prudent lending policies and make questionable loans, just as it encouraged them to do in the past. The consequences are before us in the form of a severe recession or depression. Yet the government wants to repeat this process on an even larger scale. The end result of this folly can only be the devastation of the U.S. economy on an even larger scale.

Another gloom and doom prediction on the governments spending stimulus program. If you are tired of the naysayers that keep appearing on this website, just go to CNN.com to read the statist points of view.