Post
Topic
Board Economics
Re: U.S. Dollar Plummets as Bernanke Suggests Further Easing
by
evoorhees
on 15/07/2011, 20:18:22 UTC

I just wish people would realize that presidents, whether republican or democrat, really DO NOT have control of the economy. They're not like pilots in a plane. At most they're just stewardesses, with no real control over things like unemployment, markets, etc. The Fed and Congress have way more sway in it, but presidents always take credit for when economy improved (Clinton taking credit for Internet and globalization), or get blamed when the economy tanks (Bush and Obama being blamed for things caused by Congress and banks)

Excellent point and very true. I think that people like to feel that "someone" is in charge of things, even if they don't agree with the policies. It's hard for people to comprehend spontaneous order, let alone trust in its ability to manage resources.