Filed under: Bad news, Consumer experience, Rants and raves, Money and Finance Today, Personal finance, Federal Reserve, Recession

Federal reserve chairman Ben Bernanke continues to float his raft of economic strategies upon a wad of fake money. His song and dance has provided us with no real relief. Someone at some point must have convinced him that lowering interest rates is fun and exciting. He believed those lies and now it’s his hobby. Has it provided any positive benefit of any real consequence in terms of the long term picture? I think not.

This day and tomorrow, the Federal Reserve Chairman shall be addressing congress. He’s expected to tell them about how he has our economy under control. The fact is that it’s near absolutely out of his hands. The one possible exception is that he’s handily turned our dollars into wads of toilet paper. His major concern seems to be avoiding recession, which is an admirable goal, but someone forgot to wake the dear man to tell him recession is already here, aided by the fake dollars Bernanke keeps spewing upon the ground.

Once again I’ll tell you that Bernanke has gone the exact opposite direction he should have gone. This country needs to be slammed into an economic wall in the form of increased interest rates. The ivory pillars of commercial banking need to be torn loose from their soft leather chairs and should be made to account for what they’ve done wrong. No federal bailouts, no loosening of money policy, no increase of government underwritten jobs is going to right this ship. We need a cold hard slap in the face. People need to stop living on money they don’t have and won’t get, plain and simple.

In the near term, credit financing must be harder to get, we’re looking at that right now. In the long term, recession shall naturally curb inflation, giving us time to thread the needle again. In my thought, Ben Bernanke currently should be revaluing the dollar, making it something the world wishes to look at again. Our Federal Reserve Chairman is flying in the face of good sense while waving butt wipe dollars he’s printing himself. In his efforts to preserve his huge banking friends, he’s taken both our treasury and our citizens and thrown them to the stinking dogs.

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This entry was posted on Thursday, March 13th, 2008 at 12:12 am and is filed under Money and Finance News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.