Here's Mike Huckabee, former governor of Arkansas, cutting to the quick yesterday on Fox: "You can't spend your way to prosperity," said Huckabee, "with money you don't have." Hard to argue with that statement. And if Americans understand this, as they very likely do, we should expect to see Fox's ratings climb in the weeks and months ahead. Fox has been nearly alone in applying common sense to its analysis of the Democrats' various stimulus packages, and, more recently, to the prospect of big new taxes that the Obama administration is considering. Read The Rest of The Article | Comments *** So, Helicopter Ben believes he's got inflation under control. That's like Nagasaki's public health director saying two days after the bomb that he's got strep throat under control. The Fed chairman also said he didn't see a need to nationalize the banks. That would the mayor of Nagasaki speaking, saying he saw no reason for Japan to surrender. Duly noted - and stay calm, folks. But in either case, the events of the day have pre-empted anything the Fed might have been planning. There was never a possibility of "controlling" inflation because deflation has gone rampant around the world, laying waste to nearly all asset classes except bullion, and, for the moment, Treasury paper and dollars. Read The Rest of The Article | Comments *** For a few shining hours yesterday, anyone monitoring the markets might have believed that all was right with the world. Shares were sharply and broadly higher, precious-metal bulls were getting savagely rebuked, and the Fed Chairman was acting as though he's got everything nicely under control. Bernanke in fact predicted the recession would end this year and give way to a recovery in 2010 if actions taken by the government lead to some stabilization
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