Bernanke's Folly

Psst, remember this story?  The one where a panicked Ben Bernanke and his cronies at the Federal Reserve -- seeing more devastation in the jobs and housing markets -- say they will continue to disguise the failure of Obama-Reid-Pelosi-Dodd-Frank socialism by flooding Wall Street with even more dollars? Well that's not exactly verbatim, but lost in the news shuffle of embassies being attacked while Marines are un-armed -- and Mitt's video of truth about 47% -- was Bernanke's latest announcement of quantitative easing by the Fed (QE 3).  This was followed a couple days later by Japan's central bank announcing their QE 8.  Yes, eight.  And while this was blown off the front page by other events, QE 3 might have a greater impact on the 2012 election and us in the long run than the embassy issues.  I mention Japan since they are now 20 years into a stagnant economy, and easing has failed every time.   Yet as a prisoner of the typical liberal academic...(Read Full Article)