Dec 07 2010

Drink the kool-aide with Bernanke

Published by admin at 9:30 pm under Uncategorized

It was interesting to see Bernanke on 60 Minutes this past weekend. Almost every time he spoke his upper lip was twitching. Now I’m not a psychologist by any stretch of the imagination, but my understanding is that this sort of body language is a pretty high indicator that a person is lying.

But one HIGHLY INTERESTING thing that was mentioned and confirmed without hesitation is that the U.S. currently has the HIGHEST income disparity EVER!! Bernanke didn’t even blink at that one. I think that even empires such as the Roman Empire knew the benefit in people paying their fair share in taxes. And even THAT empire ended.

If I were a betting man, I’d be placing my bets that this grand experiment we call U.S. Democracy is on it’s last legs. It’s just not sustainable. And I think the reaction of The Fed is showing us that.

So consider the value of those Federal Reserve Notes that you are holding, and consider their possible future worth. Especially in the context of a society who is choosing to operate in as an inequitable manner as it’s choosing to operate today.

Then consider the alternatives, such as Barter, or such as investing in foreign currencies (China, or India anyone??)

We’ve seen that our Legislators certainly aren’t listening to us, and certainly aren’t learning from history (or common sense. I mean, $250k/yr. is “middle class” in 2010???? According to the Census Bureau, there were 129,925,421 households in 2009, with an AVERAGE INCOME of $52,029. WHERE IN H E Dubble Toothpicks do people in the Capital Hill Bubble come up with the idea that $250k/yr. is Middle Income??) And even more important, how does that instill confidence? You’ve got me! All I can do is repeat my view of the current administration in song lyrics terms, which are “Meet the New Boss, same as the Old Boss. (I know plenty of you Tea Party kool-aid drinkers would disagree.) But from where I sit, the prospects for the future don’t look good.

A really good thing that I like to do in trying to decipher these sorts of quandaries is to do my best to step outside of my own ego-based shell and try to answer a simple question. “How do I think I would feel about this situation if I were thinking in terms of the experience of ANYONE I met in life today?” And if I were to answer that question NOW, I’d have to consider the realm of possibilities from the obviously psychotic woman (who would be so much better served under psychiatric care) on the bus this morning, who likely lives in poverty, to the possibilities of the founder of For it was on a bus on the way to a conference that I encountered that psychotic woman screaming at her imaginary enemy.

And it’s from that sort of experience that I can only glean the fact that things are pretty messed up. Indeed they are pretty messed up in a society that believes that earning $250K/yr. is “middle class.” What do YOU believe?

One response so far

One Response to “Drink the kool-aide with Bernanke”

  1. Christian Farrell don 08 Jan 2012 at 1:11 pm

    ? As you know, this occasion marks the thirtieth year of semiannual testimony on the economy and monetary policy by the Federal Reserve.

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