Tuesday, July 15, 2008

Perhaps The Quote of the Year

I turned on the Bernanke testimony for just a minute and was floored by what I heard him say with a completely straight face.

"Rest assured, whatever the Federal Reserve does is aimed to help the average working American".

I may be paraphrasing a bit because it came so quick, but I think that is pretty accurate. I am so relieved now. For all this time, I thought what the Fed was trying to do is do all they can to help their banker friends that caused the mess we're in and don't feel like dealing with the consequences of their poor decision making. I can rest much easier now that I know all of these rate cuts and taxpayer-funded bailouts and creation of exorbitant amounts of money out of thin air that drives down the value of each and every dollar in my pocket are for my own benefit. Thank goodness. All hail the Federal Reserve!


Gio said...


Oil down 10 bux. DUG to 34 on this trend.

Mac said...

Sarcasm - yeah, just a little bit.