That’s over. Last Wednesday (June 20) Benjamin Bernanke -- the George W. Bush appointed Federal Reserve chief, who was reappointed by Barack Obama, God only knows why, he’s a Republican after all, and he supervised The Crash, he was in there 2 ½ years before it happened -- decided he’d had enough.
The previous three years he’d given the Obama Administration zero interest rates, $2.7 trillion in created money, a Wizard of Oz type of mind control over Wall Street – “We’ll just print up some more money, don’t worry, be happy” – on top of the $5.5 trillion and counting the President had deficit spent. And they still couldn’t prime the pump, jump start the economy, just sit down for a day or two and figure out a solution. Bernanke had seen enough.
Sink or swim. The better choice would be to swim. But that’s up to you.
We’ll see how it goes. If Barack Obama wakes up, “What am I listening to these people for?” and starts thinking for himself. He’s got a good chance. This is a crisis situation. If he takes charge, he wins.
But if he keeps yacking about the 99% and the 1% and higher taxes and everything is great in America, it’s just a bad income distribution, we need more Latinos, it’s terrible that women doctors earn 12% less than male doctors, we need more gay Marines, let’s put biofuel in our jets, “Well, yes, it does cost $148.00 a gallon compared to $5.00 for normal jet fuel.”
Maybe that’ll work.
We’d say the better bet would be, “We got a problem here. Enough with the niceties. We’re going to fix things and we’re going to win.”