THE NOTION THAT MAIN STREET CAN BE SEPERATED FROM WALL STREET HAS BEEN COMPLETELY ABANDON BY THE FED...
BERNANKE NOW APPEARS TO CONSIDER THE FED TO EXIST ONLY TO PROVIDE LIQUIDITY FOR WALL STREET SPECULATION...
AND MAIN STREET IS ONLY IMPORTANT AS A "SHADOW ECONOMY" EXISTING IN THE REFLECTED GLOW OF WALL STREET'S EVER BIGGER AND BETTER BUBBLES...
THE NOTION THAT MAIN STREET IS JOINED AT THE HIP WITH THE SPECULATIVE COMMUNITY IS NEW AND DANGEROUS... BUT IT IS NOW OUT THERE FOR ALL TO SEE...
ACTUALLY, THAT WAS THE SOURCE OF THE PROBLEM...
WHEN WALL STREET TOOK OVER AS THE MAIN TARGET OF MONETARY POLICY...
THE PUNCH BOWL WAS KEPT FULL TO OVERFLOWING SO MAIN STREET COULD BENEFIT FROM THE SPECULATIONS...
SPECULATIVE MONEY "SLOSHED" INTO THE REAL ECONOMY AND MAIN STREET...IT WAS NOT EARNED IN THE PRODUCTION OF GOODS AS IN THE PAST...THAT WAS DEEMED TOO "OLD ECONOMY!"
MAIN STREET'S NEED FOR A HEALTHY BALANCED AND PRODUCTIVE "OLD ECONOMY" WITHOUT MASSIVE "STRUCTURAL" TRADE DEFICITS AND EVER BIGGER SPECULATIVE BUBBLES... AND WITH GOOD JOBS FOR CONSUMERS WAS IGNORED FOR TOO LONG...
NOW EVERYONE IS PAYING THE PRICE FOR THE FED'S MISTAKES AND WALL STREET'S GREED...AND THE "NEW ECONOMY" BULLSHIT OF THE 1990'S...
