Posted on 06/08/2011 8:38:48 AM PDT by Slyscribe
Back in November, when gold was priced $200 lower and the Federal Reserve was about to embark on a second round of asset purchases, Capital Hill dubbed the policy “cash for spelunkers.”
Now, as the Fed printing press winds down its current run and the economy finds itself back in a soft patch, the moniker and the prediction behind it seem on target:
Like “cash for clunkers,” the housing tax credit and other attempts to provide short-term fuel, the Federal Reserve’s second round of quantitative easing can only buy a little time to fix what ails the economy.
(Excerpt) Read more at blogs.investors.com ...
If Bernanke had a “real job” he would have been fired a long time ago for incompetence. Just like his predecessor, it seems he could not predict tomorrow’s sunrise.
Bernanke's real job is to please the federal government, not to economically benefit the American people.
It is not "buying a little time to fix" anything other than to allow the pols and the bankers to further strip the assets of the rest of us and get it protected for the collapse. All the funny money is exacerbating the problems and putting off the reckoning but making it much worse with ever dollar that puts it off.
every
And for that the Ben the Master Fellator should get employee of the year.
Can any one make a video of Bernanke saying the economy will get better and then the recent video if Bernanke admitting he was wrong. If this video could be made, then it would probably go viral. We need people in Washington that know what they are talking about. It’s time they be held accountable.
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