Super Blogs

To the Federal Reserve: Leave the Economy Alone

by Admin on 29/04/08 at 8:27 pm

I found out today that the Federal Reserve, or the Fed for short was reportedly thinking about another rate cut. My question to them, Haven’t you guys done enough? The ridiculous cuts have been done to try to steer the economy from the recession that is going to come regardless but keeps getting postponed. Each time the Fed gets involved it makes matters worse. Lets take the last decade for example.

The dot com crash. The fed stepped in, cut rates, and bey default created the real estate bubble. This bubble took on a life of its own and gave way to ARM’s, Liar Loans, CDO’s, sub prime mortgages, etc, etc. Well that bubble is deflating and at the same time a lot of people are getting spanked by it. Alot of pain caused by a lot of greed on every level. From borrowers on up.

Anyway let me stay focused here. So the Fed has been making rate cut after rate cut which has finally started to result in inflation. The dollar is in the basment. It is near worthless. This has resulted in gas prices going up. (I know it is evil “Big Oil” that gets the blame.) Food prices are skyrocketing, though ethanol has a part in that. (That is another post.) Prices will soon be going up on everything across the board.

I got bad news and this may make you mad. But the economy needs crash. We need to feel some pain. I cringe as I write this but I genuinely believe this is the only way to recover. I will probably get some mail for saying this but propping the economy up on worthless money can’t last anyway. So Mr. Fed Chairman, stop cutting rates, as a matter of fact raise rates, stop bailing out corporations. Let the chips fall where they may. We are the USA. We will bounce back. We will survive.

End Rant.