Bernanke assaults the dollar

[The Indomitable DrugS]

Originally Posted by hi_im_god

stop worrying about water damage. we need to put the fire out.

No we don't. What we badly need is pain. Real genuine pain that is felt throughout the whole global economy.

In a perfect world - only those great many who behaved irresponcibly the last several years should have to feel the pain... but that's not how it works and the whole economic system should feel it. When you inevitably bounce back from real suffering - people will behave more responcibly overall.

Keep injecting pain killers into a race horse - tap and block this - tap and block that - you might solve the temporary problems and have an unsound horse capable of running to it's best form. But, running well or not, you still have an unsound horse! - and sooner or later you'll destroy the horse.

Give depression a chance.

Bernanke is a big player at leading us into this mess - and over $1 trillion dollars was created out of thin air by him yesterday. There's no shortage of cash to lend .. there's a shortage of the will to lend it.

The Fed buying $300 billion worth of crap treasuries isn't "putting out the fire" - from a long term standpoint - it's throwing gas on a burning fire.