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View Diary: Why what Ben Bernanke said yesterday should make you angry (102 comments)

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  •  He also said he would like Congress to do more. (6+ / 0-)

    Like maybe pushing through some STIMULUS! A Jobs bill, public works projects and on and on....

    •  Learn to read between the lines (2+ / 0-)
      Recommended by:
      akadjian, qofdisks

      In order for Bernanke to print money the debt ceiling has to be raised. That is all he is interested in. The banks capital is still taking a beating (See JP Morgan).

      The banks need more money so yes the debt ceiling will be raised but only when we see public rebukes from the banks for not raising it. They need the money. If Europe gets worse, and it will, the cry will be that much more louder. Not only does Bernanke have to print against T-Bills, but he has to print for all the banks. Debased currency = inflation for the rest of us and higher deficits which means less money for social programs.

      The public BS is Kabucki theater, nothing more. He cannot hide inflation when people see if everyday they go into the grocery store.

      Only people that have been unaffected by this depression would believe for a second the FED has done a good job.

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