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Politics : View from the Center and Left

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To: Steve Lokness who wrote (126870)	12/10/2009 11:14:29 AM
From: Mary Cluney	Read Replies (1) of 541745

<<<Meanwhile we have gone to 10% unemployment. I hope you are right, but the cost of these stimulus ideas will shackle America for years. >>> How can you be so sure that without the stimulus unemployment would have been much higher. The job of the Fed is to balance the CURRENT SUFFERING against the possibility of future suffering that could possibly hurt YOUR finances? So it comes down to the current suffering of 10-12-15 or 17 percent versus the possibility of some future suffering of those that are currently relatively well off. It is US versus THEM. What do you think Bernanke is trying to do? Do you think he is totally stupid? He has huge resources to monitor vast amounts of data and a lot of it is on a real time basis? What tools do Austrians have to contradict Bernanke? Is it just philosophy?

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