Matt Blackman

Bernanke Is a Man with a Plan

I wonder who Bernanke is trying to kid with a piece that opens, "The depth and breadth of the global recession has required a highly accommodative monetary policy..."?

The Fed's "highly accommodative monetary policy" is what got us into this mess in the first place. The rest of the article represents some of the most blatant spin-doctoring we have seen in the last decade. So what does he mean when he says, "My colleagues and I believe that accommodative policies will likely be warranted for an extended period."? The Fed funds rate is now 0. Will the Fed start paying banks to access the discount window next?

I wonder how Mr. Bernanke figures the economy and American people will repay the more than $23 trillion (latest total bailout package cost from the special inspector general for the Treasury's Troubled Asset Relief Program..)? Is it any coincidence that Obama's goal is to raise tax revenues 40% by 2013?

Finally, when are investors going to wake up and realize just how challenging the investment environment will be over the next decade?