Ben Bernanke – WTF?
I have one question for the head of the Fed, Mr. Ben Bernanke. It’s a rather simple question, to which I’ll probably never get an answer. That question is these three words: “What the fuck?”.
Now, as I’m sure you’ve all heard, Mr. Bernake’s big idea to fix the economy is to purchase $600 billion worth of new Treasury bonds.
If you’re not 100% clear on what that really means, I’ll simplify it for you. Basically, his lovely idea is to literally print off $600 billion worth of new money. If you’re a liberal or an idiot (well, I guess “liberal” would cover both terms here), you’d call this policy “quantitative easing”.
Quantitative easing (QE) is a monetary policy used by some central banks to increase the supply of money by increasing the excess reserves of the banking system, generally through buying of the central government’s own bonds to stabilize or raise their prices and thereby lower long-term interest rates. -Wikipedia
If you’re smart, or at least in 3rd grade, you’d refer to this as something called “inflation”. And if we can all just take a minute to go back to that middle school economics class, let’s reflect on what inflation does:
- More expensive goods
- Less valuable money
So if anyone would care to explain the benefit of inflation, while in a brutal economy, please do! I’m all ears.
Also, Quantitative Easing is mostly used to lower interest rates. Um, can we take a second to take a quick peek at the interest rates right now? The rates we see today are at truly historic lows. They may NEVER be this low again. Interest is nearing 0%. Explain how we can go lower on interest rates.
This policy is a fucking joke, and only an ignorant, uneducated, jackass would believe that this is even a halfway decent attempt at a 5th grade policy project. Leave it to our president, and his cult of uneducated liberals, to agree with Bernanke.
All I can hope is that the Tea Party has enough of a pull to get this stupid idea off of the table, and even remove Bernanke from his position. I know they’re high hopes, but what else can I do?
So, I leave Bernanke with my initial question: “What the fuck?”. What the fuck is wrong with him? What the fuck does he think this is going to solve? Did he not see that President Hussein’s bailout didn’t do shit for the economy (well, actually it did; it put us further in the hole, raised unemployment, lessened the value of the dollar, among many many other negatives) – so what the fuck does he think this is going to change?
Mr. Bernanke, you get this week’s “What the Fuck?”
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