Oh Gawd, Protect Us From The "WISE MEN" . . .

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	Oh Gawd, Protect Us From The "WISE MEN" . . .

gmentgen

12-8-2008 2:13 PM

112 views

tags:

bailout, benanke, economic collaspe

gmentgen says:

These guys are just "rearranging the deck chairs on the Titanic" before it sinks.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/1a509ecf-240d-4df7-88fc-bb99c0075ea8/D0B439B9-0801-4EC0-B005-4A2F34A5971D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://mises.org/story/3247" href="http://mises.org/story/3247" style="font-size: 11px;">mises.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mises.org/story/3247"><H1>Ben Bernanke's Pretense of Knowledge</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mises.org/story/3247">In response to the meltdown of financial institutions, unprecedented power has 
been unleashed by the federal government. Between actions by the Federal 
Reserve, the TARP, guarantees made by the FDIC, and other direct bailouts, the 
total comes to nearly $8 trillion.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mises.org/story/3247">All of this monetary pumping hasn't put anyone to work. The labor department 
reports that 533,000 jobs were lost last month. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mises.org/story/3247">But the argument is that we must be patient with our wise men at the Fed and the 
Treasury.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mises.org/story/3247">After all, Ben Bernanke is an expert on the Great Depression, we're told over 
and over. He knows what to do to make sure it doesn't happen again.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://mises.org/story/3247">Bernanke and company are making matters worse by endlessly inflating and bailing 
out dysfunctional firms. The result will be more unemployment, not less. But 
not-so-bashful Ben is arrogant enough to believe that he can step on the 
monetary gas, make things all better, and then return the Fed balance sheet to 
normal (whatever that is). </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D0B439B9-0801-4EC0-B005-4A2F34A5971D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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