Any endeavor organized by pressure groups attracts mediocrities

The only protection we have against a government-granted monopoly and government funding is that any endeavor organized by pressure groups attracts mediocrities, and the organization collapses through the weight of its own incompetence."

Who said that?

"There are serious concerns about transparency and accountability in the government...confusion about the goals of the government, and a deep skepticism about whether we are using the taxpayers' money wisely."

Who said that? : Treasury Secretary Timothy Geithner.

The Fed can keep printing money

There's more mayhem to come, but don't worry, the Fed can keep printing money and buying private assets.

No wonder the world is scared half to death. The Fed has been creating new vehicles right and left for nearly 18 months, so the problem isn't a lack of liquidity.

The problem is that too few people want to use the liquidity the Fed is creating. They don't want to lend money, or take risks, in part because they never know what Mr. Bernanke and the government might do next.

The new money the Fed has pumped into the economy

The new money the Fed has pumped into the economy to replace the financial-sector liquidity wiped out by the collapse of the bubble has to go somewhere.
It has to end up in someone's bank account .

When we contemplate helping others, whether through volunteer organizations or welfare-state transfers, we are less likely to provide for -- and more likely to abandon -- those who are unlike ourselves.

Abolishing the income tax

Abolishing the income tax. Now that really would be a genuine economic stimulus.

The American economy is broken

The American economy is broken and there is nothing the government can do to fix it. However, the free market does have a cure: it's called a recession, and it's not fun, easy or quick. But if we put our faith in the power of government to make the pain go away, we will live with the consequences for generations.

Something cannot be effortlessly created from nothing.

When the government spends, the money has to come from somewhere. If the government doesn't have a surplus, then it must come from taxes. If taxes don't go up, then it must come from increased borrowing. If lenders won't lend, then it must come from the printing press, which is where all these bailouts are headed. But each additional dollar printed diminishes the value those already in circulation. Something cannot be effortlessly created from nothing.