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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (133401)	4/22/2013 1:54:12 AM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

The wealth disparity accelerates. Prices for the middle class and poor skyrocket, while their wages stagnate. Capital formation is stymied, since there's no point in saving money, and this destroys investment needed to maintain future growth rates. It also misallocates capital systemically, almost guaranteeing subpar growth for the long term, as debts rack up faster than growth and become unpayable. The bottom line is that Bernanke is pissing into a tsunami and hoping to divert the onrushing storm. Not going to happen. My take. The first two sentences in bold have been ongoing since the combinations of going off the gold standard, Reaganomics, union busting and globalization filtered through our economy resulting in the initial binge of overconsumption on the credit card and S&L crisis. The remainder took off after our policy shifts post NASDAQ crash and 9/11 when we first ran out of bullets in the real economy. Last I checked the GOP had total control and Greenspan ran the fed those critical years 2002-05 when the recovery came too slow for the masters of our universe at that time desperate to recapture the magic under Reagan and Clinton. This has now been the ongoing dominant theme for over a decade.. The last thing we need long term going forward is more trickle down economics or housing bubbles and overconsumption by the middle class driven by financial engineering