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The View from 1776 presents a framework to understand present-day issues from the viewpoint of the colonists who fought for American independence in 1776 and wrote the Constitution in 1787. Knowing and preserving those understandings, what might be called the unwritten constitution of our nation, is vital to preserving constitutional government. Without them, the bare words of the Constitution are just a Rorschach ink-blot that politicians, educators, and judges can interpret to mean anything they wish.

"We have no government armed with the power capable of contending with human passions, unbridled by morality and true religion. Our constitution is made only for a moral and religious people. It is wholly inadequate to the government of any other." John Adams, to the Officers of the First Brigade, Third Division, Massachusetts Militia, October 11, 1798.

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Thursday, November 18, 2010

Reactions To The Fed's QE2

For the moment, things are not behaving as the Fed’s Keynesian computer models predicted.  That’s hardly a surprise, given the abject failure of Obama’s stimulus spending and earlier Fed quantitative easing to re-boot the economy for sustained growth.  QE2 may be seen in the coming months as Quantitative Easing failure number 2.  For early results, read:

Is the Fed’s rally already over?
The rally the central bank’s stimulus plan was supposed to spark may already be over.

Mad Money: How QE2 Set Off a Global Chain Reaction