Tuesday, March 1, 2011

wanky bernanke

big up to the bernanke, who went up to the US senate and talked big scary scenarios about things for which the FED cannot be blamed. as our friends at bloomberg have written it:

Federal Reserve Chairman Ben S. Bernanke said the growing U.S. budget deficit could push borrowing costs higher and curb economic growth.
“The long-term unsustainability of our debt is a significant problem because it threatens higher interest rates, less confidence, and it could have impact on the current recovery,” Bernanke said in response to a question from the Senate Banking Committee.
“I have been urging Congress to address these problems not just in the current fiscal year, but looking over a longer time frame, because it is in fact over the next 10 or 20 years that these problems are going to be extraordinarily pressing,” Bernanke said.
When asked if the debt is a top priority for lawmakers, Bernanke said, “over the long term, certainly. It certainly must be addressed to get us back on a sustainable path.”
the big, bad deficit will strip the bark off the old money tree, he seems to be saying. that will kill the tree where dollar bills come from.
oh please, great wank bernanke, tell us it ain't so! tell us that what's really hurting confidence and the recovery.
number one, it's all that money you guys are printing to prop up the insolvent TBTF banks, that were the instruments of financial mass destruction through their massive and as-yet-unpunished deception. that is, in a word, their FRAUD.
check out today's washington's blog, for the complete rundown on how malignant the giant ponzi scheme is that has the economy to its knees -- and seems poised to finally put it out of its misery.

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