The financial blogs are all abuzz over Ben Bernanke's comments last week in which he matter of factly points to a rising stock market as proof that purchase of treasuries by the Fed is helping the economy.
James Saft for Reuters is the latest to comment on the remark by Bernanke:
“Our policies have contributed to a stronger stock market, just as they did in March of 2009, when we did the last iteration (of quantitative easing). The S and P 500 is up about 20 percent plus and the Russell 2000 is up 30 pct plus.” ...
While we have known for months that the Fed was targeting asset prices with QE, it really is shocking to hear it enunciated so clearly. ...
The Federal Reserve is deeply compromised by doing this; it is two thirds of the way down a slippery slope and the mud is starting to fall from above.
This describes what is just the flip side of the growing American fascist police state under Obama's Department of Homeland Security. Call it Corporatism if you wish. State Capitalism if you must. The plain fact is we have good old fashioned National Socialism, and its scapegoats are the so-called right wing extremists, the new Jews. The black is calling the kettle pot.
The difference this time is we're mad as hell and we're not going to take it anymore.
