Fed Independence

What’s with all this “Maintaining the FED’S Independence” talk that we are hearing lately? This must be the GREATEST JOKE of the CENTURY and yet I don’t hear anybody laughing. Where are the economic reporters from our supposed Watch Dog Media who often portrayed them selves as Nobel Prize winning economists? And what has happened to all the self proclaimed Conservative Economists, such as Larry Kudlow and Ben Stein? Do they all actually believe the never ending government lies and nonsense emanating in date order from the likes of Volker, Greenspan, Bernanke, Paulson and Geitner, and especially from politicians like Chris Dodd and Barney Frank? Where is the Conservative opposition? Since I am the only one laughing, perhaps I’m the one who is wrong or too blind to see the obvious? LET US EXAMINE THE FACTS Let’s start with Paul Volker, the current advisor to Obama and FED Chairman under both Carter and Reagan. At the time of his appointment by Carter, we were running at a 2% Inflation Rate. In less than 4 years, the US was facing a13.5% Inflation Rate. Where was his independence? Reagan then reappointed and in little more than a year, Treasury rates hit 18% and the country was mired in Recession. Strange actions wouldn’t you say for an Independent FED or did Volker suddenly find religion? You wouldn’t think so listening to his ...

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