CHESSNOID

Right now we are in the worse economic times since the Great Depression.  The biggest bubble in housing has burst and the recession is deepening.  Bernanke along with the other 2 financial stooges Bush and Paulson have brought the American economy to its knees.  He thinks we should cut rates because he doesn’t really know what else to do.  Just because we can doesn’t me we should.  According  to Bloomberg:

The Fed’s Open Market Committee will probably reduce the benchmark federal funds rate by half a point next week to 1 percent, the lowest since May 2004, according to futures trading. The official rate has never been lower since the Fed made it an explicit target in the late 1980s.

Further cuts below 1 percent could turn Fed Chairman Ben S. Bernanke’s focus away from the main rate and toward more use of alternative tools. Those might include increasing its holdings of mortgage bonds to lower costs for home buyers and purchasing securities directly from the Treasury in order to pump more cash into the economy, Fed watchers said.

It is perplexing when I see the President, Congress, and economic analysts praising what he has done recently.  They are basically saying great job on a job done poorly.  Or better yet, Bernanke has successfully failed miserably.  It is a giant oxymoron.  Why would you praise one of the men responsible for the current state of our economy today.  The only forecast in the short term is doom and gloom and it has nothing to do with the coming of Halloween.

Check out this Jon Stewart clip with Bernanke and Paulson: