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Funny Money

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Posted on November 18 2010 10:00 am
David Redl is a New Jersey cartoonist turned animator who watched heated debates on cable news shows and thought, "Geez... what were THEY like as kids..." and thus Angie was born! He's worked for King Features Syndicate as staff artist drawing and animating Popeye and Betty Boop among other characters. Since 1999 he's been the animation director at Funny Garbage, a NYC design company where he wore whatever hat to get the project done, drawing storyboards, animating, organizing productions and even programming. In his spare time, Dave created "FamilyPants.com", based loosely on his blue collar father and family, winning awards and asked to appear at many film festivals. The web site continues to get regular hits and receive fan mail around the world. Ever re-thinking his comic strip creations, "Angie" became an accumulation of all past efforts and learned lessons with comic strips, cartoons and animated characters.
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What is quantitative easing? In short, it’s kind of like printing money. The Federal Reserve buys government bonds and some financial securities from big New York City banks and pays for them with “electronic money”, simply changing the bank records on the Fed’s computer records. In some cases, they print tangible bills for the banks. In theory quantitative easing (QE2) should lower interest rates, which will increase investment spending, which will increase employment and that will help the economy. In reality, creating money that doesn’t exist, creates bubbles by distorting markets and lowers the value of the dollar. Add a weak dollar to low interest rates and you get a bad time for savers and safe investing. So people move to risky investments. Toss in that bubble and we get some really rich people and some really unfortunate people… the very kind of thing Leftists claim to take 8 years to produce and need 8 years to fix. Funny money can’t grow an economy. Government can create a predictable and stable tax structure through promising lower taxes and balanced budgets, encourage hiring through tax adjustments and encourage innovation through simplifying regulations encouraging open and fair competition.

The other thing to do is wait. What goes down, comes up, faster than climbing out of recessions.

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