Tuesday, August 16, 2011

Need I Say This Is Exactly What I Was Talking About In The Last Post

A political demagogue who has no idea what he is talking about yet he is pandering to society’s anger and the political terrorizing and fear mongering surrounding it. 

Bernanke, for all of his foibles, and the Federal Reserve for all of its enablement of corruption, hasn’t printed any money.   And, as one of countless examples, if we had thousands of banks fail and the FDIC ran out of money, and the Federal Reserve didn’t print money to replace it, then you would end of destitute, homeless and possibly even starve to death.   You know, just like in the Great Depression when banks failed, we didn’t have FDIC insurance and the Federal Reserve didn’t fulfill its charter of backstopping banks.  

The last thing we need is a pandering dimwit elected to public office.

posted by TimingLogic at 10:18 AM