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A stark admission of the Fed's Total Cluelessness
In a stark admission of how deep a hole the current Clunkered Capitalist economy has fallen since 2007, a non-voting member of the Fed's Open Market Committee has revealed that "not a single Capitalist central bank on the whole Planet" has any idea how to re-start the imploding global economy. Whoa! Is that a frank assessment that we have already gone past "Peak Capitalism"?
So what exactly is Bailout Ben's latest QE3? The only way to truly fess up to the Public is that "Captain" Bernanke has just ordered the deck chairs on his USS Titanic to be re-arranged for the 3rd time! Yes, it is that sobering--the Fed(and every Capitalist economist around the world)has tried every financial trick in the book, but the Clunkered Corporate Calamity has not been reversed. Yet few of those private bankers has the courage to say that they are out of bullets, and even fewer has the integrity to admit that, indeed, the era of Peak Capitalism has eclipsed us. From now on, it's just a matter of how catastrophic the fall into its own self-created Abyss of(derivative)Evil will occur. Meanwhile, with increasing fervor & intensity, the Clueless Cabal serving under Captain Bernanke will continue their pushing-on-a-string QE deception..