Theft as Policy

Another factor arguing for a slower pace of rate cuts is inflation: Bernanke said that rising prices remain a concern. You bet. Inflation, and a few other things. Well get to them but First Mr. P and Mr. B and all the king’s horses and men women and children and frogs should do their part and engage in some soul searching.

Many of the world’s economies are booming or growing rapidly and inflationary fears are driven by old fashioned problems like wage demands and too much money chasing to few good and services. Not so the US. Although the Fed is pumping money at a rate that has frightened the horses, the cows and the frogs none of it seems to getting to the er… people. This seems to be the point that sundry Senators were making to Mr B when he gave evidence before them yesterday. But even such obvious questions he must have expected of him “you are doing all this for Wall Street but the guys on Main Street are dying” was met with that goggle eyes wonder at it – Bernanke’s blank, out of my depth, bamboozled stare. Clearly he is the academic front for a grand theft, and having done his doctorate in, or on, The Depression, Bernanke has been wheeled in to give some respectability to the wholesale fraud being pulled by the Fed and the Merchant Banks on the US public. He may work it all out one day and retire into the well deserved obscurity from which he was raised to do exactly what he is doing now. Nothing. And God Save Ronnie Biggs.