Ben Bernanke is performing brain surgery in oven mitts

Posted Jan 7th 2008 4:31PM by Gary Sattler
Filed under: Federal Reserve, Recession

Where are those three people who still think that Ben Bernanke has any idea what he's doing? I'd really like to talk to them. Can't they tell when a professional is taking random shots in the dark? Can't they tell when they're being led by a blind man?

Let me ask you this: if you were having trouble with your car and your mechanic tried the same repair six times but still didn't fix it, would you go to him a seventh time for the same repair or would you try another solution?

It's really not all that difficult to figure out when someone is leading you down the garden path, and it's even less difficult to know when someone is just guessing at solutions. In this case I don't think that Ben Bernanke is doing either. I truly believe that the man is completely mired in 1950s-style economic thinking and, bless his heart, the poor fellow doesn't realize that the world has changed around him.

As long as he keeps throwing darts at his myopic menu of economic solutions, we're all in for more of the same kind of trouble. He's attempting to forestall inflation by infusing fake dollars into an economy in contraction? Dear God man, that's inflation at its very root!

Ben Bernanke's legacy should be the day he raises the basis point 30% and then sits back and tells the banks to figure it out. Yep, slam this damn economy hard into a solid brick wall and shake loose the need for some new thinking. If the Fed cuts the basis point once again, those who want that shall not only get what they want, they'll get what they deserve... a mattress full of worthless script.

I've said before that governments don't run economies, they strangle them. You're now staring directly into the undeniable truth of that statement. Until the Fed makes a move that can be identified as a response based on economic reality, Ben Bernanke is performing brain surgery with oven mitts on and he's using a popsicle stick as his scalpel.

Tags: Ben-Bernanke, credit, debt, dollar, economy, featured, federal-reserve, inflation, interest-rates, recession

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Reader Comments (Page 1 of 1)

1-08-2008 @ 4:04AM

davidduc007 said...

Dear:

Talking about housing, Credit, Stock Market.. all your life.. Not even see and focus ..When you are ready Business managermment.. Basic you know moving Items round 1 doolard small but can make billion dollars if you focus and know how to moving rith location..

Thanks you

DavidMua Nguyen