This blog post originally appeared on RealMoney Silver on June 30 at 7:48 a.m. EDT.As an investor and as an American, I am disappointed. I am particularly disappointed in the general inability of The Four Stooges of 21st Century Finance -- our executive branch and now add legislative branch to the mix as well as our leaders in the Treasury and the Fed -- to accomplish the following tasks:
- 1. to identify an emerging problem in derivatives; 2. to propose, launch and engineer bold initiatives to counteract the depression in housing; and 3. to reduce our reliance on imported oil.
- a slowdown in emerging economies;
- the ECB backing off its rate hike policy;
- the Federal Reserve extending the duration of its liquidity auctions;
- a more productive fiscal stimulus package; and
- an effective strategy directed toward the housing depression.