12/17/2014
By Charles Payne, CEO & Principal Analyst

When I think about the Federal Reserve, I often think about one of my favorite television series of all- time…The Beverly Hillbillies and the episode that still ranks as one of the highest rated ever.

In this particular episode, the greedy banker rushes to his doctor’s office only to hear the only cure for his common cold was to eat sensibly, get lots of rest, and to drink plenty of fluids, and a week to ten days later he would be cured.

Later in, we learn that Granny had developed a cure for the common cold that set-off frenzy where the banker sees nothing but dollar signs. He set Granny up in a big office to practice medicine, even though she was not licensed. It was a good thing, too, because Granny and her family were offended that those fancy “city doctors” did not take her seriously; one even called her a witch doctor.

Toward the end of the show, we learn Granny perfected the formula 45 years earlier with a bunch of ingredients that included her homemade moonshine.

Once someone took the potion all they had to do was to eat sensibly, get lots of rest, and to drink plenty of fluids, and a week to ten days later they would be cured.

The point is all these intervention schemes from bailouts to printing phantom money at best gets the economy to where it was going anyway, but without the risk and a nasty hangover.

http://www.wstreet.com/member/commentary.asp?con_id=34077#addcomment

Charles Payne
Wall Street Strategies

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