It is embarrassing. You feel like telling Ben Bernanke, Big Businees and Wll Street to "get a room" as Big Business and Wall Street fawn over Bernanke like besotted female lovers wanting their beloved "sugar daddy" to take care of them, as he has done before. And Bernanke, The Worst Failure in the History of World Finance, reciprocates by makng the STOCK MARKET the focus of his disastrous policies. Meanwhile, an ineffectual President Obama--in way over his head--delegates POLICY to the economic fascists on Wall Street, and in Big Business, who Obama supposedly blames for most of the ills of this country.
You remember Ben Bernanke? He is the Chariman of the Federal Reserve, appointed in relatively early 2006. Wait a second? Does this mean taht Bernanke PRSIDED over the bursting of the housing bubble (without any preventive action from him or the Fed), and over the slide of this country into the Great Recession of 2008-2009 (which could be regarded as still continuing)? Riht. Bernanke is the one man MOST reponsible for the Great Recession, because he is the single man who could have done the most to prevent it. Further, nothing he ha done since, despite being looked at as the "savior" of us all, has succeeded in putting us back on the right track. Gsoline prices derailed the economy (Obama)? That was not really because of the "Arab spring". It was because of BERNANKE and the Fed printing money, which raised the prices of almost ALL commodities, including FOOD. Oh, Obama did his share with his disastrous energy policy, discouraging development of fossil fuel energy resources, but it is BERNANKE who developed the "policy" of ever more Fed "stimulus" to push the stock market up (at the cost of making a real "recovery" from the Great Recession impossible). And, IT DID NOT WORK.
Quantitative Easing 1? Quantitative Easing 2? A continous bailout of the banks and Wall Street, continuing to thie very day? Bernanke and the Fed have tired them all--printing money on a scale never even considered in this country before--and NONE of it HAS WORKED. All of these things have merely prevented any real "recovery" from taking hold. And how could it work? This worshi of one man is contrary to all economic theory. It CANNOT WORK, even in theory, because one man cannot possibly know enough, and be wise enough, to control an economy as complex as ours. It did not work in the Great Depressoin--in a simpler, less complex economy--and it cannot work now. Further, we know it DID NOT WORK.
So where are Wall Street and Big Business putting their hoopes now--at least according to the economic fascists at CNBC? Remember, again, that economic fascism is not a reference to Hitler. It is a reference to the economic theory that the best from of economic policy is a "partnership" btwween Big Business/ Wall Street and the government to CONTROL our economy with central planning steps. It has been accurately described as: "socialism with a capitalist veneer." Obama is an economic fascist. That is alos ture of most of present-day Big Business and Wall Street, who believe that THEY are the dominate partners with Obama and Bernanke controlling the economic policy of this country. They believe that if they push hard enough, Bernanke and Obama will do their bidding--especially BAIL THEM OUT. This is the lesson they have learned from the bailuts produced by the Great Recessioni of 2008, and it is that "lesson" that is threatening to utterly destroy this country--as they "duoble down" on "central planning" "solutions" to our present prolems. No, these beneficiaries of free market economic theory do NOT believe in free market economic theory. That is why, for the past several weeks (as the stock market melted down and Wall Streeet lookef for another BAILOUT--CNBC, and almost every Wall Street/Big Business guest on CNBC, have been pushing Bernanke to act as the MESSIAH once again--a much faster Second Coming (from their point of view) than Christ.
As I said, it is embarrassing. These economic fascists are asking Bernanke so "solve" everything with a SPEECH. I could never make this up. The economic fascists of Wall Street, and our Big Business "community", are DEMANDING that Bernanke signal that he is ging to CONTROL the economy, with the Fed, in such a way as to "save" us. They are promising Bernanke: Yuo do what we want--delcare that you are going to take whatever action that needs to be taken to bail our economy, and everyone in it, out, but especailly us--and we GUARANTEE you that the stock market will SKYROCKET (because, I remind you, of a SPEECH). Exactly why does Wall Street believe that a sPEECH will mean our salvation, when Bernanke has FAILED for more than 5 years (since 2006, when he was appointed)? Well, Wall Street does not think Bernanke has failed in his main purposee--from both Bernanke's point of view and the people on Wall Street; TO BAIL OUT THE PEOPLE ON WALL STREET AND THE BIG CORPORATIONS. These economic fascists do not care about ou are me. The deluded souls--The Stupidest People on Earth--believe that they have figured out a way to guarantee that THEY do all right, even if the economy in general suffers. If you guarantee that banks can borrow at 0%, or LESS, who are you bailig out? Right. Your are bailing out the BANKS, as the Fed continues to do. Wall Street just expects Bernanke to signal that he will DO MORE, and INFLATE the stock market, while signalling that he will ALWAYS bail out the people of Wall Street, no matter what.
Hi Jackson Hole Bernake speech has been scheduled fro weeks. All of that time, teh economic fascists of Wall Street, CNBC, and elsewhere have been getting more and mor hysterical about how they are COUNTING on Bernanke to stop the economy from falling back into another recession, and to bail them out once again. Now you might WONDER why, if Bernanke is that good, he has not ALREADY "solved" all of the problems of our economy. You might even wonder why anyone should pay any attentino to Bernanke, wo has FAILED for FIVE FULL YEARS in his "steardship" of the economy. But you have to remember that these economic fascists of Wll Street are The Stupidest People on Earth--intereted, really, only n what they perceive--deluded as they are--as their own self-interest. That is why most of these people are/were for Obama. They believe Obama is their kind of CENTRAL PLANNER, who can be EDUCATED to do thigns their way. So far, they have been pretty much right about that.
Truth: Bernanke's Jackson Hole speech cannot possibly "solve" our economic problems. If Bernanke were capable of doing that, instead of being an emperor with no clothes who has FAILED for five whole years, he would have already done so. This wole idea of looknig to a "savior" (which partly explains the election of Obama) is absurd. And the idea that the economic fascists of Wall Street know how to properly CONTROL our economy is beyond absurd. It is about to result in the destruction of our country, if it has not already done so (the destruction just not yet having become complete).
Yes, Rick Perry was right. No, I am not endorsing his use of the word "treasonous", although his opponents made just as much of an overstatemetn when they accused Perry of accusing Bernanke of a "death penalty crime". Anyone who believes that Perry was accsuing Bernanke of legal treason is tuilty of much more--and more agenda driven--outrageous hyprbole than Perry. Perry was obviously speaking in a figurative/moral sense, and not any sort of legal sense as to the kind of "treason" referenced in our Constitutionn Still, the word was ill-advised. But the concept is pretty much dead on: the concept that Bernake has BETRAYED the fundamental principles of this country by his central planning approach to the Fed. Under Bernanke, more than at any time previously, the Fed has ASSERTED the right and power to CONTROL our entire economy, and to take unprecedented actions if its former "tools' do not accomplish what the Fed wants. Yes, in a fundamental sense, and with the approval of much of Wall Street and Big Business, Bernanke has become a CZAOR--a ral one, in the traidtion of the CZAR of Russia. Yep Bernanke is well on his way to becoming a DICTATOR over the econmy, and the restult will be the same as with all dictators: failure and disaster.
P.S. No proofreading or spell checking (bad eyesight).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment