Absurdity
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Bernanke reports to congress that the American people (The People, or the little people) are suffering with erosion of income and net worth. He did not mention the beneficiaries. Why is that?
The income and net worth lost did not evaporate. It was consolidated by the wealthy elite that Bernanke did not mention as the benefit that accompanies every cost. That is EXTREMELY irresponsible leadership. Extremely! Boot him out!
The fundamentals of our economy are almost completely lacking and it shows in the most salient way with an erosion of your income and your net worth. Yet the president says with confidence, "the economy is fundamentally sound."
This absurdity of power and the adminstration of power is nothing but the very clearest indicator that the executive is fundamentally unsound.
All of these fundamental problems require fundamental solutions.
If not, it gets more absurd. Remember, Hoover said people were selling apples on the corner because "they want to." It's beginning to get to that level of absurdity.
We don't have to tolerate this. Correcting this is your Constitutional Right, your Duty!
Join the coalition for Obama and let's start doing the right thing ad absurdum for a change!
Very best wishes.
The income and net worth lost did not evaporate. It was consolidated by the wealthy elite that Bernanke did not mention as the benefit that accompanies every cost. That is EXTREMELY irresponsible leadership. Extremely! Boot him out!
The fundamentals of our economy are almost completely lacking and it shows in the most salient way with an erosion of your income and your net worth. Yet the president says with confidence, "the economy is fundamentally sound."
This absurdity of power and the adminstration of power is nothing but the very clearest indicator that the executive is fundamentally unsound.
All of these fundamental problems require fundamental solutions.
If not, it gets more absurd. Remember, Hoover said people were selling apples on the corner because "they want to." It's beginning to get to that level of absurdity.
We don't have to tolerate this. Correcting this is your Constitutional Right, your Duty!
Join the coalition for Obama and let's start doing the right thing ad absurdum for a change!
Very best wishes.
As far as our economy--it's going nowhere but south. No one short of Jesus Christ would be able to stop the slide we have begun so put on your helmets and your rubber boots for when we hit bottom.
here are some choice remarks from Jim Kunstler:
"What would happen if the US Government acted to bail out these feckless enterprises (and what if they don't)? Either way, it's not a pretty picture. If Mr. Bernanke does start shoveling loans into the GSE black hole, he'll further undermine the soundness of his own outfit and do nothing, really, to repair Fannie and Freddie's structural problem of having securitized too many loans that will never be paid back. If instead Fannie and Freddie are flat-out taken over entirely by the US government (and remember the Federal Reserve is not the government), then the national debt will roughly double overnight -- which will pound the US dollar down a rat-hole.
Meanwhile, the foreign holders of those decrepitating dollars might not rush to the redemption window, but they certainly would use them to buy up every oil futures contract on God's not-so-green Earth as fast as possible -- they'd be dumb not to -- which would leave American Happy Motorists with gasoline prices north of $5 a gallon, and possibly north of $10. (In that case, say goodbye to the airlines. In fact, say goodbye to what passes for the rest of the US economy, including especially the vaunted retail sector that supposedly counts for 70 percent of the action.)"