Stop Screwing With The Economy!

If there is one thing that most Tea Partyers have in common….it is hate.  Not the hate of taxes (though some would argue)…..not even Obamacare……and the deficit is not on the list……the one thing that they all hate and want to make go away is…..(drum roll)……the Federal Reserve.

We all have our likes and dislikes but until such time as the Fed can be closed down or disbanded or ……well whatever….until that time we have to live with the fact that the Fed is in control of the money supply….as much as we may hate the fact….they are in control.

Every couple of weeks or months Mr. Bernanke must make the trip to Congress and do his thing….either testify or issue a report…and he recently issued such a report and what he had to say was very telling…..not that any of the clowns in the circus of Congress will heed his warnings…..but he made them the same……

(Newser) – The Federal Reserve isn’t planning to take its foot off the gas pedal anytime remotely soon, Ben Bernanke told Congress today, while rebuking legislators for not doing their own part to juice the economy. The Fed’s interest rate has been near zero since 2008, and Bernanke said he expects it to stay there for a “considerable time,” according to CNN Money. The Fed won’t ease up until unemployment drops to 6.5% or inflation passes 2.5%, and it doesn’t expect either to happen until 2015.

But he also criticized Washington’s recent economic moves, saying that the Fed didn’t “have the capacity to offset an economic headwind of this magnitude.” He cited the expiration of the payroll tax cut, other tax hikes and spending cuts (particularly defense spending), and the sequester as “a substantial drag on the economy.” Neil Irwin at the Washington Post translates the message to Congress thusly: “You’re the reason the economy isn’t taking off more.”

You may not like Bernanke but his words are accurate….Congress has done nothing to make our economy stronger….they have done nothing that would benefit the middle class……Congress wants to spend their limited time showboating at hearings that accomplish nothing but make for a spot ad in their next campaign.

Economists have been saying this same thing for 4 years….but NO one heeds the warnings or offers anything that would make our economy better…….hearings……37 votes to kill Obamacare……anything and everything except an economic solution……Repubs have spent 870 days without doing anything substantial, like offering bills, to fix the economy and create jobs…they even find bad news in the good news that the deficit will fall this year…..

You can hate the Fed but it is wasted effort…..why not hate Congress and then do something that will heal an ailing economy?  Like vote the douche bags out of office.  Or do nothing and bitch about stuff that you are too lazy to fix…..keep whining and watch the country crap out.  It is your choice.  Choose wisely.

2 thoughts on “Stop Screwing With The Economy!

  1. Congress has done quite a bit over the past four years, it has been horrific for the economy and the middle class.

    – 2010 Congress appropriated 35.2 billion dollars for “Green Jobs”. According to Obama this “investment” would create millions of jobs. 250 million dollars of that money was lost in just one company, Solyndra. Fisker received 500 million dollars and is in the process of preparing for bankruptcy.

    – Purchased GM and Chrysler and loss over 20 billion dollars. http://www.nbcnews.com/business/auto-bailout-loss-estimate-dips-still-will-top-20-billion-1C8340261

    – The much ballyhooed Cash for Clunkers. Congress borrow/printed 3 billion dollars and purchased old cars and destroyed them (destroying capital always hurts the poor and middle class). 66% of the stimulus money went to Japan and Korean car companies. Hence, the poor in the U.S lost cheap transportation, Asia got the jobs and the U.S taxpayers got stuck with the 3 billion plus interest.

    The only interest Bernake and the Fed have in the U.S economy is to make sure they make more money. As I showed earlier, quantitative easy (printing monopoly money) always enters the economy at the top and benefits those who receive it first, and does the most damage to those at the bottom. The poor and middle class for the most part on see their money devalued.

    A good barometer of this effect would be a widening gap between the top 1-3% of wager earners and the lower 50%. Maybe you can do a story about that.

    1. Owen, I agree with you on most levels……Tesla is finally making money……GM and Chrysler are paying the loan back….I may do a post on your suggestion but it may not be to your liking…..even so I would like to see your thoughts on the post once it is written…..chuq

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