Our fanatically Keynesian President Barack Obama believes that governments should spend money they don’t have and put the country into debt. So he is whining to Republicans to continue raising the debt ceiling so the federal government can continue on its wild spending spree.
And Obama has the nerve to say that the opposing Party’s not wanting to do the President’s bidding by irresponsibly raising the debt ceiling is “extorting” the President. He claims that it is extortion when some of the people’s representatives tell the Dear Leader to stop stealing from our grandchildren!
This Obama person is just as bad as the Bush that preceded him. And the power-grabbers of the Federal Reserve and the banksters are just as dishonest and irresponsible.
But they are merely reflecting the general population now, the selfish, impatient and id-oriented population of America.
And some people are speculating that Janet Yellen, Vice Chairman of the Fed’s Board of Governors, will be picked to be the next Chairman of the Federal Reserve System, replacing Ben Bernanke.
Like Bernanke, Ms. Yellen apparently believes in using the apparatus of government intervention to control economic matters. And she certainly favors Keynesian policies, “easy money” and continuing with the self-indulgent spending habits.
The Economic Collapse Blog’s Michael Snyder notes how Ms. Yellen was totally clueless in 2007, really believing that those artificial housing and other stimulus would be “still likely to achieve a relatively smooth adjustment path.” And then in 2010 she testified that she did not see the meltdown and collapse coming, as the current Fed Chairman, Ben Bernanke, also did not see it coming.