BloggingStocks

They call 'em dollars and you can blow your nose with 'em

Posted Mar 18th 2008 2:00PM by Gary E. Sattler
Filed under: Bad news, Rants and raves, JPMorgan Chase (JPM), Bear Stearns Cos (BSC), Federal Reserve, Recession

stress faceI'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.

Tags: bailout, Ben Bernanke, BenBernanke, dollar, featured, Federal Reserve, FederalReserve, recession

Reader Comments (Page 1 of 1)

All contents copyright © 2003-2008, Weblogs, Inc. All rights reserved

BloggingStocks is a member of the Weblogs, Inc. Network. Privacy Policy, Terms of Service, Notify AOL