12/12/07
So the tough guy free marketeers didn’t get as much help as they wanted from the Fed yesterday, so they whined like children that didn’t get the precise toy they wanted for Christmas and took the Dow down 300 points.
Ben Bernanke, like an overindulgent, jelly spined father demanding that stores open on Christmas morning to make sure his little disappointed darlings get exactly what they want, comes through with his half-hindquartered fund injection scheme. And it works! The markets are opening up, and up huge, this morning.
As I have said in the past, we are in big trouble when the Chairman of the Federal Reserve Board judges his performance by the volume of the cheers from Wall Street. But I had no idea how much trouble we are in. Ben Bernanke will throw the dollar over the side, will throw inflation to the wind, will do absolutely anything to please Wall Street.
We are on the precipice of a financial disaster unlike anything we have seen in at least 78 years. When this band aid bursts, the wound will infect our entire system. And Ben Bernanke will be there to pour liquefied feces on the festering wound. He will make G. William Miller look like the very portrait of prudence.
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