I've had just about enough of this Federal Reserve dilution of dollars scheme. What's going on here? Our national economic team has gone mad I suppose. Reserve chairman Bernanke seems bent on flooding the world with greenbacks which are becoming increasingly useless. Am I the only one who sees this?
The latest Federal Reserve backed dollar setback, the Big Bank Bailout, is underpinned with moves like the Bear Stearns purchase (NYSE: BSC) by J.P. Morgan Chase (NYSE: JPM) backed by YOUR ever shrinking dollars. I'm sick of it, just sick.
Yet now Wall Street is all giddy again, waiting for the next rate cut to be announced by the money fools. Oh please, give me some confetti and a kazoo! I have to celebrate the further deflation of my savings account before I puke.
You know those V-8 television commercials where someone gets bapped in the head because they didn't eat their vegetables? Well, someone needs to apply a V-8 revelation tap to the skulls of some Reserve Board seat warmers. They've obviously passed on too many servings of brain food. I can see it from here, can't you?
Until those good old boys at the Federal Reserve get smart and really do something to correct this whole mess, I'll just get my tail back to work. I have to earn a living and attempt to maintain my shrinking position in this decline. It just seems a shame to me that my "economic stimulus" check will be worth ten percent less when it reaches my savings account than it was worth when they printed it.
And so it goes.
Why do we have a weak dollar?
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Reader Comments (Page 1 of 1)
3-18-2008 @ 3:32PM
gerald vaughn said...
You get them. I'm sick of the fed bailling out everone but the consumer that and tax payers who are getting screwed in all this. The people on the fed board are the most incomponent buch of as's holes this side of the nut house, as Chevy Chase would say in Xmas vacation. Toilet paper is all our money will be worth if they keep this shi't up.
3-18-2008 @ 5:51PM
william lindblad said...
I am inclined to agree with article and the first post. However, I must point out that a 1,000 sheet of scotts is now at about a buck and I prefer plain white to government green, not matter that their ink is waterproof. On the serious side we can expect the treasury presses to run 24/7 and the five or ten to be the minimum denomination if they keep it up.
Hoard pennies - they are still mostly copper.