O'Donnell, RBS Securities and welfare bum

In this Yahoo article the discussion is that low rates are the new normal. The Fed really is not going to raise rates because rates are dropping as we head into recession.  What rates are not dropping? The interest on excess reserves, the fee Congress pays to the bond dealers for sling some 15 Trillion in roll over debt from DC.  So what does RBS Securities have to say? They read right out of the Keynesian welfare manual and want more government debt.

For the Fed's Interest Rates, Low Is the New Status Quo

 And RBS Securities fixed-income strategist Bill O'Donnell argued that regulation's chastening effect has caused an overdependence on the Fed for financial liquidity. When that dries up, he said, "nobody really knows how the system will hold up under duress."

We shouldn't blame all this on overzealous regulators. Banks' prior excesses and the damage they wrought necessitated a regulatory response. The problem is that it exacerbated a difficult economic environment because fiscal policy makers had failed to devise more effective stimulus measures such as infrastructure-investment programs.

First, over dependence on the Fed for liquidity, OK we got that, the preipheral economy is breaking up.  The what does O'Donnell propose? More debt base spending from the center.  This idiot wants more bad effects from the causes he just described.  His empty brain must be rattling around.