I have no faith in Ben Bernanke. Let me say that I am not the federal reserve chief. I am not qualified to be the federal reserve chief. I'm not even qualified to criticize the federal reserve chief, but I'm going to anyway.
As I have written before, I blame our current recession on debt. Corporate debt, consumer debt, national debt, take your pick, they are all at fault for our current economic crises. Cheap money over the past 8 years is a huge factor in all that debt. Now that the economy is trying to right itself by dropping down to reasonable levels everybody is getting scared so what does our illustrius chief do? That's right he cuts rates. Did we not learn anything during the Greenspan years? Cheap money does not fix the economy. Free money does not fix the economy. Survival of the fittest fixes the economy. are we really going to allow the big 3 automakers continue their horrible business practices by bailing them out? Is it really wise to make it easier to get loans when the money to pay off those loans is still not there?
Come on America, tighten those belt straps, go to work, pay off your credit cards and if you have a job help out your neighbor who doesn't, but don't reward bad companies with poor economic policies. We've got to stop perpetuating the problem.
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