’)Every week in the Going Postal section ITHP will nominate a individual who represents the scum of this planet.
This Week: Richard Strengal, Editor Time Magazine
Over the past 18 months, the United States government has institutionalized rewards for failure. So it only makes sense that Richard Stengel, editor of Time Magazine, would give the person of the year to the man who most directly brought about the worst financial collapse in 70 years. Ben Bernanke has done more harm to average everyday Americans than Al-Qaeda, the Taliban, and Iran put together multiplied by a thousand. Not only should Bernanke be fired from his job as chairman of the Federal Reserve, he should be tried and convicted for grand theft from the future generations of America.
Bernanke was on the Board of Governors when Greenspan lowered interest rates to near zero for ideological reasons. This action, endorsed by Bernanke, is the root cause of the crises we are experiencing now. And when this inevitable collapse struck, instead of tightening its belt like every family in America has been forced to do, the Fed has spent money like a Goldman Sachs executive on his daughter’s sweet sixteen. The Fed’s balance sheet has exploded, increasing 350% since March of 2008. Anyone with a brain can figure out that we are headed for a serious dose of inflation that is going to devastate average Americans.
But Stengel doesn’t care, all he cares about is promoting a radical Keynesian agenda that brought us the Great Depression and is going to lead to a decade or more of serious pain for those of us without the privilege of bailouts and loan guarantees. Either Ben Bernanke is the dumbest person on the planet for not recognizing the coming crisis, or he is leading a corporate enrichment scheme to drain the US Treasury and bankrupt the American people. But what the hell, lets give him the person of the year, right Stengel?
Bernanke did not save us from financial ruin; he caused it. And now he is making it exponentially worse. It’s because of people like Richard Stengel who promote this fairy tale that Bernanke is our living savior that unemployment is going to remain in double digits for the foreseeable future.