Honest to God, folks, I’m not making this up. There are people — it is being reported, anyway — in the White House who are so low when they look up they see the gutter. That’s how depressed they are. They think they have tried everything. Nothing left to do. They have done it all, and nothing has worked. The idea the stimulus package and all the various QEs, the Quantitative Easing 1, Quantitative Easing 2, this is basically where the government printed money and bought bonds from itself. The Fed printed money and then bought Treasury bonds, and those bonds were then invested in the market. Wall Street did pretty well. They’ve tried all of that. All this spending and nothing’s worked, there’s nothing left to do.

But from whose standpoint has everything been tried? Ivy League, elite, overeducated, Keynesian leftists. The government, the government, the government has tried everything in our textbook! (crying) Everything my professor ever told me, and we even tried some things Dershowitz told us! (crying) Larry Summers, everything — (crying) — there’s nothing left! (crying) Everything they’ve been taught for 30 years they’ve done, it hasn’t worked, and now they are depressed.

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