Bernanke is Lost in the Dark

No tallies were added to the job board in August and President Obama will be stepping in to help with a proposed plan of $447 billion in stimulus money. The plan will provide for unemployment benefits, payroll tax cuts, infrastructure, and security cash so teachers, firefighters, and cops don’t get laid off — we can’t have employees who aren’t economically justified become unemployed!

Let me remind the readers here today that we are currently over $14 trillion dollars in debt and the government has passed numerous stimulus packages that most likely need to be renamed to avoid accusations of false advertising. As all of the failed policies pass us, one by one, the head of our central bank can’t even seem to grasp what is going on around him.

Bernanke this week admitted to being puzzled about consumer spending. He stated:

Even taking into account the many financial pressures they face, households seem exceptionally cautious.

Seem? Isn’t he supposed to be in touch with the economy and aware of why consumers aren’t spending?  I hold no PhD in economics, nor have I run any sort of financial institution, but I can say that when I see my personal finances drying up, I save my money. So when Americans see their country’s balance sheet reach the height it has, while the government gives us no reason for new confidence in future fiscal conservatism, they protect what they have.

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