July 03, 2008
– Comments (5)
Stop Bernanke From Swiping Your Savings
I've been buying. And I'm prepared to buy more, now that everyone is finally freaking out over the same old bad economic news.
im starting to hate that guy...bernanke
I still think inflation is due more to the actions of congress, especially in a credit-crunch environment.
Inflation is due to weak dollar, which is due to uncontrolled spending. Not only weak dollar created inflation in the US but also in the US dollar-pegged countries.
I don't want to start a political debate here, but ask yourself where we spent most money in the last 5 years and you'll know who to blame. It is not Bernanke. Bernanke seems to be the only guy who is able to do anything at all in this environment. everyone else (the president, the treasury, the congress) is waiting for things to fix themselves.
And don't get me started on the stimulus package, where we borrowed more money (read made the dollar weaker) and dug oursleves even deeper in the hole.
I just want everyone to know that even though I live in Europe, I did receive my stimulus check (I paid U.S. taxes last year, so I'm qualified...yippeee!)
I'll tell you what, $600 doesn't look like much from this side of the pond.
Between Bernanke and Treasury Secretary the market doesn't have a chance! First we are raising rates to contain or reign in real estate and now no one will lend money for real estate. We need regulators who allow the markets to work not attempt to manipulate those markets to suit some inflation or what ever other benchmark can be pulled out of their collective hats. Really frustrating! Oil is now the bubble waiting to burst and every day there seems to be a new concern over supplies to encourage the prices to go ever higher and give ammunition to Bernanke's inflation tribe further punishing the markets.