June 25, 2011
Bernanke's Soft Patch: It's the Uncertainty, Stupid!
Mr. Fed, Ben Bernanke, told reporters this week that he's clueless as to why America's economy is in this "soft patch." Note from Mrs. Stretched-to-the-Gills-Scared-out-of-her-Wits-Middle-Class-American to Mr. Fed: It's the uncertainty, stupid! Mr. Fed should understand this better than the average American consumer, I think. After all, Mr. Fed is personally responsible for much of the monetary policy which has so heavily contributed to this excruciating consumer angst. Pulling out his fancy little money-printing press and calling it QE1 and QE2, Mr. Fed decreased the value of every dollar and contributed to the inflation which is creeping like kudzu in a stranglehold around the family budget. At the same time Bernanke had the government printing presses spitting out more Monopoly money (the first time since the Civil War America has done such a stupid thing to try to fix the economy, by the way), the Fed has ferociously kept interest rates low, presumably to spur...(Read Full Article)