Bernanke In Trouble
Jan 22nd, 2010 by David Anderson
It should be a slam dunk for Time’s man of the year to be reconfirmed for a second term, but it appears that liberals and conservatives agree on at least one thing, there needs to be a growth agenda that is bigger than Wall Street. Moderates are not rocking the boat as usual. Republican Senators Jim Demint, David Vitter, and Jim Bunning have put a hold on the nomination of the Bailout King, which makes it require 60 votes out of 100 to get released to the floor. They have found allies in the left, which fears complete devastation if the economy does not turnaround soon. Socialist Bernie Sanders, who caucuses with the Democrats, is leading the defection of the left from President Obama.
It has gotten so bad that the vote has been put off even though his term expires 31 January. Senate Majority Leader Reid could not count to 60 even before Scott Brown is seated.
Some one should take the fall for allowing the dollar to be demolished in value, commodities to be inflated artificially, and economic bubble policies. It may as well be the guy who leads our monetary policy establishment. He may have saved us from a depression, but it was the policy framework of the Fed that almost took us into one. It may be time for Ben to quietly go into retirement and write books.
AMEN
The Fed Chair is in trouble because Obama has failed badly, politicians who will do anything to protect their butts will dump on the Fed Chair to appear to be populist.
Mike Protack
Bernanke failed before Obama. President Obama is not to blame for the economic crisis. He is to blame for continuing the same failed polices.
http://delawarerepublican.wordpress.com/2010/01/22/the-ship-has-run-aground/
It goes back to 1913 when the Fed was created. Central Banks are the woe of civilization as clearly explained by the Austrian economists. Keynes is a charlatan but his theory gives politicians power, so they love him. Read Hayek, von Mises and Ron Paul. Yep, Ron Paul, “End the Fed.”
It’s Jim “Bunning” (not much of Phils fan, huh?)
Thanks Phil fan. Just a typo, and no not from that era. I am more of Rose, Schmitt, Carlton, Denny, Morgan, DeJesus, Boone, Maddox, Matthews, Samuel era.