Fed insists more time is needed for economic improvement

While the attention of most Americans had been diverted this week either because of Donald Trump taking credit for “discovering” President Obama’s birth certificate, or Prince William and Kate’s Royal Wedding in Britain, we have an incompetent Federal Reserve that is completely out of control.

The International Monetary Fund stated on Monday that China will be the world’s largest economy by 2013, surpassing the United States because of the Fed’s reckless monetary and fiscal policies.

So I guess this information prompted Federal Reserve Chairman Ben Bernanke to do something for the first time in the Fed's entire history: Hold a press conference to address our nation’s economy, inflation and how we seemingly print money out of thin air.

Of course I’m joking. Do you really think Fed Chairman Ben Bernanke would spend his time vigorously addressing any of those issues?

At least on more than one occasion this year, the Obama Administration insisted major growth of our economy. Not true. According to Ben Bernanke, anyway.

Bernanke did say that the United States economy grew by a mere 1.8% in the first three months, but has not recovered from the deep recession stemming from 2008. Additionally, the nation’s unemployment is now 8.8% from 10% it was over a year ago. However, this has been employment growth has been in the public sector, not the private sector, as the government would want you to believe.

Bernanke also indicated that housing markets are still in decline and families continue to face foreclosures nationwide.

Despite the fact that he is slightly coming clean about our continued depressed state of affairs and that our $1 trillion deficit and $14 trillion national debt is unsustainable, Bernanke still wants Americans to buy into his philosophy that everything will be fine and dandy. If anyone actually does buy into Chairman Bernanke’s thoughts on our nation’s economy, maybe they need to be drug tested. This is the same Ben Bernanke, who in 2005, mentioned that housing prices would not drop substantially, and the same Ben Bernanke, who during the sub-prime mortgage crisis, said that those housing issues would not spread into larger mortgage markets, which were believed to have been much healthier.

The man’s track record and countless lies are simply incredible. How much time does Bernanke need to improve the U.S. economy? He says there is little control over gasoline prices, but the Fed continues quantitative easing and yet the dollar continues in rapid decline.  Does any of this make sense? Has he taken economics 101?

Despite the current problems with inflation and devaluing of the dollar, the Fed had absolutely no problem on transferring more than $550 billion to central banks overseas that Americans have never even heard of.

I hope Congressman Ron Paul is able to gather enough co-sponsors so that legislation will be introduced to look into the Fed’s policies and an internal audit conducted to see what the hell has been going in this counterfeit operation. Many Americans, I'm sure will be furious.