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Politics : President Barack Obama
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To: ChinuSFO who wrote (122085)10/1/2012 3:02:42 PM
From: RetiredNow  Read Replies (4) of 149317
 
Chinu,
you absolutely know I had non-stop heartburn when Bush Jr was in office. I railed against his policies for 5 years (2003 onwards) and then voted for Obama as a result of my disgust with Bush and the GOP.

You say that our money is going to rebuild the nation, but the facts don't support your assertion. The facts tell a far different story with the majority of the ongoing deficit spending and monetary stimulus favoring the big banks and their cronies. You really think that money is rebuilding this country? How is that possible when they hold most of that money in excess reserves and won't lend it out? The only thing Bernanke's money printing and Congress' deficit spending is doing is impoverishing the 99%.

I don't know if Romney will do as he says. I'd put the probability of him actually ousting Bernanke at 50%. I'd also put the probability of him putting in another Bernanke look-alike at 75%. So the odds are that neither he nor Obama will change direction. And in fairness, I don't know how they can. The root cause of this evil is Congress and their failure to live within our means. However, solving the money printing problem is easier, because all you have to do is remove one man and make sure the one who replaces him is of the same mental acuity and disposition as Volcker. That right there would force Congress to act, because the easy money days would be over.
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