Feds are out of Bullets Big Time
Very disappointed here that Wall Street would have a ridiculous reaction before and after the speech was leaked... That speech was Ben Bernanke's speech to be delivered today...17 pages of "More of the same" "We are out of bullets" that the FEDs have spoon fed us for years.
But the sickening reality is that there are so many people out there that think the Fed Chairman and Timothy Geithner and so on have all of this power to influence the economy with. When the economy does extremely well and the President is a Republican....Then the Liberal Lefties all point to the Fed Chairman and say "It is clearly because of the Fed Chairman and nothing to do with the Republican President's policies."
And that is going on right now..... People freaking out over how the Fed Chairman is out of bullets here.... How Benny the B (as Alstry puts it) can only offer 17 pages of Dry Garbage to Spew while CNBC Reporters are in the backround Beaming about how "It doesn't make sense anyhow to expect Benny the B to change policies... So this doesn't matter!"
What matters though is ultimately that policies HAVE TO CHANGE..... HAVE TO.....
While Alan Greenspan had no problems speaking out against President Bush's Tax Cut Policy before it happened and then PRAISE it GREATLY after it happened and lowered unemployment to 4.5%. What we have is BENNY the B terrified to say anything in opposition to THIS President....Barack Obama.
It seems the FEDs have no trouble disagreeing with the President of the United States IF AND WHEN it is a REPUBLICAN in office. When it is a DEMOCRAT then forget about it.... They have to get in front of a podeum of sorts and regurgitate 17 pages full of Garbage spoon fed them by President Barack Obama's Economic Advisors.... Larry "Summers of Wrecovery" and Timothy "Tax Cheat" Geithner.
If President Obama isn't willing to drastically change his ways..... Then you get a mass market sell-off..... free fall.... like today... Cause the economy will continue to *DROP* as long as the policy stays the same... Doesn't matter how many CNBC Reporters they TROT Out there to shower praise over the failed policies that we have now.
But... Don't put too much stake in BENNY the B..... The Real problem is the playing Golf in Martha's Vineyard.