“We remain prepared to take further policy actions as needed to foster a return” to full employment with low and stable inflation, Bernanke said in written testimony prepared for the Senate Banking Committee.
We NEED a return to at least increased employment now, but the Fed is taking NO action. They are, however, prepared. Bernanke is a corrupt, incompetent liar. He was painfully unaware we had a housing bubble that could burst (He sad there was “no danger” in his 2005 confirmation hearings.), he was totally lost and impotent in 2007 when he blindly started cutting rates, and since the beginning of 2008 he has done everything to increase the power of the Fed, hide their theft and incompetence (no audit!) and has poured probably over $1 trillion of taxpayer money into failed, incompetent, and corrupt banks while allowing them to gamble risk free in equities thus corrupting and weakening the markets and damaging 401ks. etc. .
Bernanke hasn’t a clue so he says; “we are prepared.” Prepared to do WHAT? The Captain of the Titanic WAS prepared, but the ship still sank. I am sure that Bernanke IS prepared to protect and further enrich the Fed and his fellow banks while bankrupting his country! Bernanke is destroying this nation, it’s economy, and the welfare of future generations and still Washington and the MSM hang on his every lying word.
There should be a complete and thorough audit of the Fed, an investigation of the Fed including whether Bernanke has shared insider information (He has!), and then prosecutions should take place , hopefully followed by convictions and long jail terms. Finally the Fed should be abolished; removed from our nation like the cancer it is before it kills us!
- cynicalguy
