Ben Bernanke Must Go!

Bernanke seems to be a nice guy, and I liked his initiatives to make Fed more transparent. He is just incompetent for the big job and must resign right away!

Let's look at his scorecard:

• Heathy Growth of the US economy: He gets an F-. The economy is in a recession, and will be for a long time because his inaction last year and messy, panic moves this year. He bailed out the Bear Sterns last Friday. Is this guy a Socialist for wealthy people?
  
• Low inflation: He does better, gets an F. Whatever the inflation numbers the government released, just ignore them. I'm paying 20-30% more each month for everything that I eat and use. How much more do you spend each month? I don't even go out for dinner anymore.
  
• Sound underline economy structure for future growth: He gets an F again. Subprime mess. No problem. Just pumping more money into the money. Does this guy learn any lesson? Victor knows that if he got into trouble by doing something, he won't do it again. Learn something from a four year old.
  
• Economical opportunity for everybody: F-. (And he will argue that it's not his job!) The income gap between billionaires and low-income people is growing. Ben doesn't care and won't do anything.

Ben Bernanke acted cool last year, and missed by a mile. Now he is in a constant panic mood, dancing to the tunes of the Wall Street. He cut rate in a conference call after the Asian market tanked during the weekend. He will cut rate again tomorrow. I doubt that it will change anything.

Overall, he get an big F-. Time to find another job!

Just to be fair: Alan Greenspan is an egomaniac. He needs to shut up, for good.

(Oh well, what's all this has anything to do with our family blog? Good question…)