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Wednesday, March 11, 2009

Ben Bernacke:The Mixed Up Weatherman

Ben's sunny days turn into thunderstorms and his 100 degree forecasts end up as deep frigied blasts. Ben's sideline economic forcasting isnt much better. Ben looked at his little weather meter and concluded the depression will be over with in a few months give or take. Ben also said that all was well when the economy was slipping into a coma. The fact is Ben is playing the game with Milton Freidman's obsolete play book. Freidman's theories have almost always proven to be impractical when applied in the real world.
In order for the banks to recover housing price have to start going up. And in order for that to happen consumers have to start earning more money. And that process hasnt even begun.
The United States dosent produce anything anymore. It has all been shipped overseas. Its called globalization. Gm wants people to buy American. Most of the parts in Gm cars are foreign made and in many cases so is the entire car. While Obama has proposed a lot of good things he has been very slow in bringing back our manufacturing base.
I hope he isnt relying on Bernacke's weather forecast because if he is its going to be a long hard depression. Get rid of Dog Face Wagoner and start rebuilding Gm.