Ben Bernanke and Barack Obama Don't Get It...Cheap Money Works For The Classes Not For The Masses

When Robert Reich speaks someone in the administration should listen.  Fjor those of you who don't know Reich, he was former Secretary of Labor and is currently a Professor at Berkeley University.


He gets what those in charge of "working" our economy don't.  Cheaper money will not improve our economy.  I believe it will not  stop the recession - which many are saying has stopped.


The Huff Post just ran one of Reich's articles which first appeared on his own site - RobertReich.org 


Reich very logically explains why Why Cheaper Money Won't Mean More Jobs, which is the title of his article.

The sad reality is that cheaper money won't work. Individuals aren't borrowing because they're still under a huge debt load. And as their homes drop in value and their jobs and wages continue to disappear, they're not in a position to borrow. Small businesses aren't borrowing because they have no reason to expand. Retail business is down, construction is down, even manufacturing suppliers are losing ground.

No cheaper money won't work.  We have seen the affects of cheap money ever since the announcement of the economic crisis in 2008 - which I say really began in 2007.  Cheap money benefited only our Too Big Too Fail Corporations and are now benefiting any LARGE corporation.  None of it has yet benefited the average person, the unemployed, the under employed or the millions of suffering Americans all having to look to social programs just to survive.  But maybe that's what it is all about - social programs for a socialist society.  A two class system - the haves and the have nots.

You must begin to wonder what all of this is all about.  After all, Bernanke is not a stupid person.  In fact, he is a very intelligent and smart person.  He understands what will work and what won't.  At the same time, Barack Obama is not a stupid person either - he understands.  What they understand is what we all out here in Recession America understand - helping big business does not help the public.  Is this the real plan?

But this big-business borrowing won't create new jobs. To the contrary, large corporations have been investing their cash to pare back their payrolls. They've been buying new factories and facilities abroad (China, Brazil, India), and new labor-replacing software at home.
If Bernanke and company make it even cheaper to borrow, they'll be unleashing a third corporate strategy for creating more profits but fewer jobs -- mergers and acquisitions.

Read Reich's full article...click here

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Is Barack Obama Really In Charge?

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Robert Reich - former U.S. Secretary of Labor - currently a Professor at Berkeley, wrote an article in the Huffington Post this past Wednesday, January 13th, titled, "Why Obama Must Take On Wall Street"...click here to read full story

It has been more than a year since all hell broke loose on Wall Street and, remarkably, almost nothing has been done to prevent all hell from breaking loose again.

In fact, close your eyes and you could be back in the wilds of 2007. Bankers are still making wild bets, still devising new derivatives, still piling on debt. The big banks have access to money almost as cheaply as in 2007, courtesy of the Fed, so bank profits are up and bonuses as generous as at the height of the boom.

The real question as I see it is, can Obama take on Wall Street?  The question has been raised many times as to who is really in charge - in control - of our government.  The answer most often given is that the powerful bankers - to include The Federal Reserve - are the ones truly in charge and by what we have witnessed this past year, that answer more and more becomes reality.

This being the case, then Obama - or any sitting President for that matter - cannot take on Wall Street and The Federal Reserve.  Make no mistake, The Federal Reserve has been said to have more power then the President.  In fact, it has been said by many that when Allen Greenspan was Chairman of The Fed, he was the most powerful person in Washington.  I would have to believe that Bernanke is as well even though he appears to be a more soft spoken and lmore modest person then his predecessor.

We all know that the Federal Reserve is a private entity given the power to enable the banking industry in this country.  It is The Fed that begins the creation of money from thin air that allow the banks to function, lend money they do not have, take back assets (transfer wealth) from those they have loaned money to and profit grrreatly from each and every transaction.

I was recently made aware of a movement, The Zeitgeist Movement whose apparent purpose is to disclose the truth about how our country and economy really work.  They have released a two hour movie that I found extremely interesting that sheds a large spotlight on the question of who is really in charge.  I am attaching this movie to this post and suggest that you do take the time to watch it.  I must, however, offer my disclaimer:  I do not support or endorse this "movement" or group and have not completed my research into them.  I will report further on them once my research is complete.

I do know that this movie did open my eyes and add credibility to many thoughts and beliefs I have held for many years.  My main belief is that it matters not who is elected President - and Obama is proving that each day with each action and each speech.

I have always believed that this country and economy are based on debt and phony paper we call money.  this movie does explain in easy to understand terms why I have held that belief.

So, watch with an open mind.  You may agree with all or some and disagree with all or some yet the perspectives and explanations offered may help us determine if Obama or anyone can take on The Fed's Wall Street.  



You be the judge.

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