For those who have been walking quietly along the boardwalk of life in search of happiness and wondering who stole the planks, that would be Ben Bernanke and the private bank known as the Federal Reserve. At the end of the year the Federal Reserve Chairman Ben Bernanke will be replaced by Federal Reserve Vice-Chairwoman Janet Yellen, the first women ever to hold the most powerful position in the world (no it’s not Obama). She told congress today the plank removal would continue.
Today the Dow and the S&P rocketed to new all time highs and since the red and blue team either don’t have a clue what is happening, or perhaps don’t care, I am going to say this over and over until we get it.
Quantitative Easing, the Federal Reserve Money Printing machine, robs from the poor and middle class and gives it to the wealthy, and Yellen has committed to overdrive. This includes, by the way, the poor here in St Croix Valley.
We can keep pretending we need more social programs, regulations, and government to fix this but the reality is, all of these fixes are built on borrowed money and every time the presses kick in you may as well mug a poor person-it has the same net effect.