Mr. Sensitive

December 2, 2011

I’m Voting Against Bernanke

Filed under: Uncategorized — lbej @ 10:47

Except I don’t get a vote.  When did that happen?

Are you horrified by this week’s extra-constitutional events, ladies and gentlemen?  You should be.  The equity markets rallied by 7-8 percent on the week after THE FEDERAL RESERVE BANK OF THE UNITED STATES decided to funnel trillions of dollars of cheap money into PRIVATELY-OWNED EUROPEAN BANKS by way of other FOREIGN CENTRAL BANKS.  If Ben Bernanke is on your Christmas shopping list this year and you don’t know what to get him, let me humbly suggest some of that novelty toilet paper with the text of the U.S. Constitution on it.  How in the world is it legal for the Fed and its no-holds-barred, no-Congress-consulted Chairman to FUND FOREIGN BANKS?  To me, this feels like the end of democracy and nationality, if not the end of the world, and the DOW WAS UP 500 POINTS ON THE NEWS.  Lack of liquidity in European debt markets is a problem, yes, but do you know what else is a problem?  My baby won’t sleep through the night.  Also, I need one of those Russian ushanka winter hats, preferably an ermine one.  Is Bernanke going to come to my house tonight to rock Brinkley to sleep?  Is Bernanke going to buy me a fur hat?  He might as well, because he’s got as much statutory authority to do those things as he has to FUND FOREIGN BANKS, and at least I’m a U.S. citizen.  Never mind that free money for everyone forever wouldn’t be a good idea if it were constitutional—IT’S NOT CONSTITUTIONAL.  That’s where the argument is supposed to end.

Yes, I know all this started in 2008 during the U.S.-centered leg of the financial crisis, and yes, I know it worked.  But I have rebuttals to both points: first, repeatedly breaking the law doesn’t change the law, changing the law changes the law; and second, did it?

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