Vote of Incompetence

In violent times
You shouldn't have to sell your soul
In black and white
They really really ought to know
--Tears For Fears

President Obama nominated Ben Bernanke for another 4 yr term as Fed chairman today. The president commended Bernanke's "bold action and out-of-the-box thinking that has helped put the brakes on our economic free fall."

Just one more laughable moment.

The record offers no indication that Mr Bernanke saw this mile wide problem on the horizon. Once the storm hit, he did what any central banker predictably does to avert self-inflicted economic crisis: print more money, expand credit, create more debt, buy in assets that are declining in value.

The Fed chairman has been riding point on the initiative to mortgage our future in hopes of stemming the present tide.

Yep, those are real foresighted, heroic actions worthy of another term.