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(((Jim Willie predicted QE3. I think what needs to happen
is withdrawal from Afghanistan and Iraq, as well as most
foreign bases -- esp. those in Germany and Japan. Cut payments
to defense companies and increase royalties on oil produced
in the US. Raise taxes on the rich. Raise short term interest
rates by 1/4% to wean everyone off of zero. And impose
defined contribution plan pensions on all Federal employees
instead of defined benefits. Base business taxes on
where goods are produced -- i.e. value added tax. Then declare
"economic disaster zones" where warranted in the worst hit
parts of the US where there would be zero taxes for ten
years and accelerated planning approvals for new enterprises.
Finally, work on increasing the supply of doctors in the
US, even if we have to import them. Then in 2012...)))

Fed's Lockhart: Oil shock could lead to QE3

By Chris Isidore, senior writer

March 7, 2011: 11:08 AM ET

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