Should Obama Fire Fed Head?
It looks like US taxpayers are going to take another hit as the President and Ben Bernanke justify the Federal Reserve's new $600 billion quantitative easing program.Foreign financial gurus maintain that if this monetizing of US government debt continues, foreign investors are going to get spooked and will refuse to invest in dollars and US Treasuries.When that day arrives, mass panic in the world financial system will surely ensue. China, Brazil and South Africa have already criticized the plan, with the German finance minister Wolfgang Schaeuble saying it was "clueless" and would create "extra problems for the world".
Until Armageddon is upon us, the most that US corporations can do is continue to use the best tools available to help control and reduce costs to ensure America remains competitive. In part, this can be helped by sound fixed asset accounting practice to track and monitor the use of corporate assets, which can be a substantial burden both in physical and financial terms.Relatively cheap fixed asset management software tools are available which can help American business keep a lid on capital costs at a time when the economic environment requires companies of all sizes to be conservative with their expenditures and squeeze the best ROI out of every dime spent.
Driving adoption of these potentially dollar-saving systems is the growing availability of inventory management software tools that require very little integration or customization. The universality of PC platforms, mobile computers, wireless technologies and handheld devices have also made asset tracking tools more mobile and easy to use.Even these steps may not be enough to save Bernanke. Bank of Korea Governor Kim Choong Soo is expected to call on Asian central banks to act to counter the impact of America’s expanded monetary stimulus.However, Obama continues to back the Fed’s hope that countries with persistent current account surpluses will pursue export-led growth while taking global economic stability into account. Anyone care to take a bet on an outbreak of altruism?
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Frequently Asked Questions...
What President in this century has squandered more tax dollars than all previous presidents combined?
Answer:
For most of this century, George W. Bush has been president. I choose him.
