Monetary And Fiscal Failure
Americans and their ass-kissing politicians are at it again. Watching the Chairman sit in front of the Congressional committee today was about as painful as it can get. I always wonder why politicians, especially Republicans, love to suck up to Ben and thank him for his fearless leadership and great contribution to saving the American economy since August. HMMMM! I guess they are giving themselves and the administration a pat on the back for putting this guy in charge. But just save it. Please! Enough of the bullshit. The economy is a mess and it is impossible to know whether it would be more or less of a mess with or without Chairman Bernanke. It is a mess because of us, all of us, not just Bernanke or Greenspan. And not just because of some politicians who know so little about economics and finance that they cannot even figure out whether they are questioning the Fed Chairman or the Secretary of the Treasury. It wasn’t funny. It was pathetic. But the worst of all is the discussion about a stimulus plan. I guess everyone finally figured out that the greatest monetary interventionist policy in history couldn’t fix the problems. So now it’s time to believe in a fiscal policy solution and hearing Bernanke plead for immediate help was about all I could handle. I know the populists are demanding it and after all, they seem to be in charge these days. But in the end, it will not work. It may get a few votes for one political party or the other but it will not solve the problem. At some point, and I fear that point will only be found after great financial pain, Americans may once again realize that the economy is their responsibility, not the responsibility of their government.

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