I publised this diary originally about a month ago. Now the stock market is sending us a large message.
Our leaders need to cut the crap and make tough descisions. Time is indeed up and it's time to rebuild our financial system.
The essence of Federal Reserve Policy,over the last 23 years:
"I recognise that I accord a much larger economic role to equity prices than is the conventional wisdom. From my perspective, they are not merely an important leading indicator of global business activity, but a major contributor to that activity, operating primarily through balance sheets. ..." Alan Greenspan
Pure Lunacy, The Essence of Fed Policy
If your like most Americans, the arguments flying around for the confirmation of Federal Reserve chairman Ben Bernanke can be hard to understand.
Most would say Mr. Bernanke has pulled America back from the edge of economic catastrophe. He even was named this week as Time magazines "Man of the Year"
But I am going to show you a simple chart and graph on why I think Ben Bernanke should not be confirmed.
I will explain how to interpret these items.
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