Since the mass corporate-owned media isn't bothering to actually tell us in the public what is going on because 1) Bernanke's deal is in their economic interest 2) they think it's their responsibility to not cause a panic 3) they don't understand it themselves I decided to do some research.
Wikipedia is great.
First, let's get to know Ben Bernanke.
http://en.wikipedia.org/...
Bernanke is particularly interested in the economic and political causes of the Great Depression, on which he has written extensively. On Milton Friedman's ninetieth birthday, November 8, 2002, he stated: "Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."[10][11][12]
Ever since I read this a couple days ago, I have been practically unable to sleep. I think I'm having a nervous breakdown actually.
WHY IN THE HELL IS CONGRESS DOING ANYTHING ON THE ECONOMY THIS MAN SUGGESTS?
WHY SHOULD I AS A TAXPAYER HAVE ANY FAITH IN THIS MAN'S DECISIONS ABOUT MY MONEY?
WHY SHOULD THE DEMOCRATIC CONGRESS ENDORSE HIS IDEAS WHEN THEY ARE THE IDEAS OF THE MAN, MILTON FRIEDMAN, WHO DESTROYED THE NEW DEAL?
But it gets better...
You see THIS YEAR is exactly the 75th anniversary of the FDIC (part of that Alphabet Soup that McCain keeps getting the letters mixed up about despite the fact he was in charge of a Senate commerce committee for years).
Because I'm an insomniac, I was able to see on CNBC they even celebrated it at the Opening Bell on Wall Street today ironically.
What is the FDIC?
http://en.wikipedia.org/...
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.[citation needed] Some provisions such as Regulation Q that allowed the Federal Reserve to regulate interest rates in savings accounts were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999 by the Gramm-Leach-Bliley Act signed by President Bill Clinton.
How could Bill Clinton sign this into law? How dare could he, a Democrat, sign the bill that undid arguably the most important law to come out of the New Deal? How could it slip by him? Where was our media when this HUGE sea change of market regulation was approved? Well... let's think back to what was going on Nov. 12, 1999 to what pressing issue that day was somehow more important to Clinton and the media.
THE FLORIDA RECOUNT.
Many felt when Bush v. Gore happened that Bush stole an election.
Guess we should have been A LOT more suspicious the Republicans might try to steal our entire life savings? At the same time they were outsourcing all our jobs with NAFTA and all the trade agreements? At the same time they took us to war with our tax dollars for something that oil companies and not us profits from? After they had already racked up our debt to obscene levels for 40 years?
The Democrats stupidly allowed themselves to get played in the 2000 election? Will they on this too?
This isn't about politics. This is about POLICY.
On CNBC some dude is saying that the Federal Government has just created the biggest hedge fund in the world by creating the stuff for the money market accounts and that whatever he did just fucks up the FDIC even more.
Barack please tell them to stop this nonsense! And prepare the American people for what's ahead.
Thank God when we, and the ENTIRE global economy, are in this vulnerable position we the people had the wisdom after all to nominate a person the world generally loves and trusts despite how much they hate Bush --- ESPECIALLY because we chose one named Barack Hussein Obama.
Thank God we nominated a Constitutional law professor. (Who has actually read the Federalist Papers)
Thank God we nominated a community organizer. (Who can rebuild our unions that we should never have dismantled)
Thank God we saved Social Security just in time.
And you won't believe this one...
You remember that bit about how Lincoln had a secretary named Kennedy while Kennedy had a secretary named Lincoln? Well in researching this diary I discovered FDR has a degree from Harvard and a law degree from Columbia while Obama has a degree from Columbia and a law degree from Harvard... very interesting. Also Obama is from the Hyde Park neighborhood in Chicago while FDR had his home base of Hyde Park, New York.
Instead of 1942, we talk about when we were asleep at the switch in 2000.
And instead of the WIN THE WAR express this should be the CHANGE WE NEED express and instead of DEFEATIST for the McCain train this should say MORE OF THE SAME. And on the Obama train can be a bunch of stuff for renewable energy and infrastructure rebuilding rather than planes and weapons.
Of course instead of Hitler that fat cat's face turns into it should turn into Bush.
Whaddya think? And if you like this diary be sure to check out the one in my sig I wrote back on Feb. 4.
FDR to Obama: Why HOPE matters