"Recession" has become a taboo word in most of pro-GOP-controlled media outlets. Bernanke has indicated further rate cuts to avoid the dreaded taboo word! Once again the Fed is as much a part of the problem as the solution.
We are in dire straits due to the Cheney-Bush tax gift to the wealthiest few, the insane Neocon/Cheney-Bush revenge war in the Mideast, the deliberate undercutting of the dollar, globalization pressures, and the obscene waste represented by DoD contracting in Iraq and at home.
Another cut will further exacerbate the situation and will be destructive of start-up operations when the belt is again tightened. Just as Greenspan's fear of inflation and his repeated over-corrections contributed significantly to the DotCom debacle, Bernanke has been helping to burst bubbles caused by lender greed and new financial instruments not understood well either by their creators nor their buyers.
Recession is here and will only deepen.
UPDATE: December 1, 2008 I was right!!!!!!
We are in dire straits due to the Cheney-Bush tax gift to the wealthiest few, the insane Neocon/Cheney-Bush revenge war in the Mideast, the deliberate undercutting of the dollar, globalization pressures, and the obscene waste represented by DoD contracting in Iraq and at home.
Another cut will further exacerbate the situation and will be destructive of start-up operations when the belt is again tightened. Just as Greenspan's fear of inflation and his repeated over-corrections contributed significantly to the DotCom debacle, Bernanke has been helping to burst bubbles caused by lender greed and new financial instruments not understood well either by their creators nor their buyers.
Recession is here and will only deepen.
UPDATE: December 1, 2008 I was right!!!!!!
Posts
No comments:
Post a Comment