One of the more annoying stories is this notion that the FED is going "too far."
Too far from what...? The Greenspan Asset Bubble Mania that has dominated the Market for nearly a decade and that is now coming to an end?
Too far for the K-Street Kongress that has been spending money and cutting taxes...even while waging an unfunded, unpopular and unwinnable war or wars globally?
IF THE FED HAS TO MOP UP THE GREENSPAN HYPER-LIQUIDITY...THAT HAS RESULTED IN OVER CAPACITY, OVER BUILDING AND OVER PRODUCTION...NOT TO MENTION OVER PRICING OF EVERYTHING FORM OIL TO GOLD TO HOUSING TO HEALTH CARE... THAT'S JUST THE PRICE YOU PAY FOR A BAD POLICY THAT'S NOW ON THE ROCKS...
The FED simply must do whatever is necessary to protect the dollar...and no, bashing gold is not the answer...that's like putting cosmetics on a rash...and calling it a "cure."
THE PROBLEM WITH THE FED IS THAT GREENSPAN WENT TOO FAR WITH HIS BUBBLES...AND NOW BERNANKE HAS TO MOP UP THE MESS...SINGLE HANDEDLY...AND WITHOUT HELP FROM THE REPUBLICANS WHO CONTROL THE GOVERNMENT...
Too far? No Way... Not fast enough is more like it!
