Politicians are already placing blame for the next cataclysmic market fall.

February 29th, 2012
in Gary's blogging, midday post

12:00   Midday Report:  The politicians main thrust in life is to tell you that everything is going to be O.K., even when it isn't. I strongly believe that the politicians created this financial dilemma for reasons we will never completely know. Then there are those who actually believe these same idiots are going to fix it - about 50% of the population in fact. These clueless folks rally around the market place whenever one of these blabbering idiots claim that today is going to be great and there is nothing to worry about. Look, there is blue sky - oh, did I mention they are prone to lying!!

What will really happen is we will experience a cataclysmic market event sending the markets spiraling downward and these hapless souls YOU elected to Congress will blame it something other than themselves. These people YOU elected are NOT pro-active. All they can do is pass more laws and spend more money.

They wait until something happens and then place the blame on some lame excuse. Actually, it really isn't hard to see if they did the right thing in the first place none of them would be reelected. Very much like a parent / child punish / "eat-your-broccoli" event.

It is much better for reelection purposes that the pain YOU must endure comes from some other source than the Government. All of which, of course, was beyond their control and they had nothing to do with it.  Elevated oil prices comes to mind. Why should they worry? After all their health care benefits and retirement funds are taken care of.

@leavitt: "Bernanke will be on Capital Hill the next two days testifying, so there’s an outside chance something he says induces a quick move in the market. Supposedly the economy is improving yet Bernanke says rates are to remain low through 2014. It makes no sense to me.

If things are improving, he should be able to ease off the monetary policy. Failure to do so makes me wonder if he knows something we don’t know."


Ron Paul To Ben Bernanke: "People Lose Trust In The Government Because You Lie To Them About Inflation"

"Anytime Ron Paul sits across from Ben Bernanke you know sparks will fly. Sure enough, they did: starting 50 seconds into the clip below, Ron Paul, guns blazing, asks the Chairman if he does his own shopping, if he is aware of what true inflation is, and if he knows that Americans don't trust the government because they are being lied to about inflation.

And it only gets better, once Paul starts brandishing a silver coin. The punchline: "The Fed will self-destruct anyway when the money is gone" - amen. And ironically letting the Fed keep on doing what it is doing will achieve that in the fastest possible way.

In fact, letting the system cannibalize itself with no further hindrances may be the best option currently available - just go to town."

"Capitol" describes the center of our government. "Capital" is a large sum of money. For Washington DC, either word would be appropriate in that context. Pass the broccoli please.

Written by Gary

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