Federal Reserve at it once again
This country is finally paying the price for its excessively luxurious lifestyle. If you, the readers are eating multiple meals a day and have a safe place to sleep every night, you are doing better than half of the world’s population.
Now that said, liberals continue to proclaim that Obama is coming in as the savior at a time when the times call for one of his popularity. It is important to understand that because of his popularity he is going to be able to gut this service economy with vengeance. 70,000 plus in corporate America are suffering, because of their loss of employment today. What is happening right now is a transition of the economy from a service economy, which was formerly a producing economy, now into an economy fueled by government employment and steep taxes and devalued currency. This is not going to happen overnight, and that my friend is the trick, thanks to your new Democratically controlled Congress and Executive branch. This gradual process is not what most people are waiting to wake up to one shining morning. The news cycle in this country moves at warp speed, so even a relatively fast move into an inflationary depression seems like a gradual occurrence.
And now where do the media mediate this occurrence in our time. The short answer is that they will not. They will in large part man both sides of the argument. The Keith Olbermann’s of the media now are forced to defend the man in power because of their stance leading up to the election. And Fox news will burrough in the bunker in whicdh they have resided for many years. What will we see as the viewer when Obama not only supports but encourages the banker takeover bill that is looming on the horizon?
We will most likely see compliance. Compliance of the sort that has not been experienced since the Fox news of the Bush era, that is so close but yet so far in the news cycle of this nation.
Something to watch for in the next several days is what Federal Reserve Chairman Ben Bernanke will do when in meetings with fellow Federal Reserve leaders. Federal Reserve leaders will meet on Tuesday and Wednesday to consider purchasing securities in order to drive up the price of bonds while at the same time bringing down their yield. This could effectively cause a plummet in the cost of long term borrowing costs. The Federal Reserve has chose to do it this way, but it is not so much of a choice, but rather because they are cornered by interest rates currently residing the 0% territory.
Pingback by Political Blog Weekly: 30 January 2009 | U.S. Common Sense on 31 January 2009:
[...] "Federal Reserve at it once again" Originally published: 26 January 2009 Submitted by: U.S. Common Sense Summary: Questioning the action of the Federal Reserve and the media as our economy transitions away from a service economy. [...]
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