Fed Chairman Ben Bernanke on Thursday said he is confident the central bank can exit its rescue programs while keeping inflation in check.
Yo, Mr. Ben, you can't have it both ways. You can't stimulate/spend and then cut back overnight on the trillions. Your lies will come back to haunt you when this inflationary spiral gets going. No one gets out of a recession by government spending. It was asswipes like Barney Frank (government employee) and Franklin Raines (quasi-government employee) that allowed the likes of Stan O'Neil of Merrill Lynch fame and Jimmy "asleep at the bridge table as to his firms risk" Cayne of Bear Stearns that helped bring this baby down.
Those fat cats and the countless thousands upon thousands of church-going citizens who inflated loan documents, lied on mortgage applications and pumped up real estate valuations at the bank along with some shady real estate agents and deals.
All in all, yet just another reason to read John Bogle's book, "Enough".
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now managing the Parisian Family Office. A White Earth Chippewa, raised conservative, growing up in the poorest county in the U.S. on the Pine Ridge Indian Reservation, he began a Wall Street career in 1982. Always been, will always be, an optimist. In a world on a dopamine binge, this is his take on life from Ghost Ranch in MT, Pamelot, his TN farm or their home in San Jose del Cabo, Mexico.
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