Bernanke signals QE3 as a re-election stimulus?

Let’s flashback to September 15, 2008. It was the day the stock market crashed as we remember. And the following month and a half would see the same markets repeatedly crash right up until the November presidential election. Do you remember headlines like these?

Stocks Plunge as Crisis Intensifies

How convenient for the winner! Had the economy not imploded so dramatically, the electorate would not have been seething with an ABBA (Anyone But Bush Attitude) at the poll booth.

Did we fail to mention that Obama raised an approximately $700 million campaign war chest during that election cycle? Let’s see, just how much of that came from Goldman Sachs, Morgan Stanley, Chase, Citibank et al.?

All one had to do was look at Obama’s every appointment having to do with anything and everything concerning the National Debt, Treasury, Federal Budget, Economic Advisors, Trade Deficit, etc. Every one of these appointments came right off of Wall Street, most indirectly, but we all know how that works, don’t we?

Larry Summers, Timothy Geithner, Ben Bernanke all represent everything that has gone wrong with the entire economy and financial health of the nation. These guys actually assist in the running of the global economic/financial control matrix. And yet we were to believe this was the change that Obama promised which would level the playing field.

The whole game has now been stacked in such a way that Wall Street has taken over Main Street to such a degree that there really is no longer a Main Street. It’s been corporatized!
A great number of Mom and Pop businesses have been effectively put out of business by both the US Federal Government and their Corporate Overlords.  

Now, let’s take a look at this evolving national economic collapse and financial meltdown, especially the role of the FED and the Obama Re-election Campaign. The following headlines explain it all, don’t they? This is where you really get to see the politics behind the economics. Both the FED’s role and Obama’s role in this unfolding Greatest Depression Of All Time is coming into sharp relief.

Is Ben Bernanke trying to help Obama win re-election?

Republicans blame Obama for Fed action

Republicans accuse Federal Reserve of juicing economy for Obama

Reps accuse Fed chief of helping Obama

Thicker than thieves!

Bernanke’s balloon getting ready to bust, but not before the November election

After having presided over QE2 (Quantitative Easing Program #2), which effectuated the largest redistribution of wealth from the middle class to the moneyed elite in history, we are now to believe that Obama and Bernanke’s QE3 is going to ‘once again’ stimulate the economy. Conveniently, just before election day in November. No one has ever seen such audacious and larcenous monetary policy, particularly under the glaring light of a presidential campaign season.

Apparently, the financial elite, who have been behind Obama since his first very first position in elective office, are need of another stimulus. Either because they sense that Romney will run a much tighter ship (Romney has already expressed his dismay with Bernanke at the helm.), thereby denying their corporations anymore corporate welfare. Or, because Obama has been such a extraordinary pitchman for the banking and financial services industry that they will do anything not to lose him.

You have got admit, the mainstream media (MSM) has never been so lop-sided and gushing in their transparent support for one candidate over another. Certainly, their major stockholders and bondholders have weighed in on the outcome of this critical election of 2012 by issuing a directive —> OBAMA at all costs. Even at the cost of a 2nd Great Depression!

If you think this discussion is an over-reaction, you haven’t been paying attention to many of the more sane and sober economists who studied and mastered real economic theory, not politicized economic theory.

Certainly, a National Debt reading well above $16 Trillion and growing by the second is evidence enough of a financial collapse being a hairsbreadth away. Which would inevitably be followed by an economic depression – one very global in scope because of the US dollar functioning as the planet’s reserve currency.

So, the question remains as the headline points out: “Bernanke’s Balloon Getting Ready To Bust”. And, will the busting balloon occur as a result of making sure two politicos don’t lose their jobs?

Obama and Bernanke are joined at the hip like never before. Their destinies are inextricably linked as long as they stay in their current positions. However, their ambition, and the greed of those few who back them, will guarantee the further destruction of the USA economy? Just as Herbert Hoover’s misguided and ill-advised economic and monetary policy accelerated the Great Depression of the 1930s. Hoover’s Administration engineered the Great Depression; it didn’t have to be that way. Just as the Obama Administration invariably has taken the path of least resistance. Quite unfortunately for the American Republic, if ever there was a time for real and necessary change, that time has been the last four years.

The die has not been cast just yet. The outcome of the upcoming election is still very much undecided. However, the re-election of a president who has overseen so much economic destruction and financial blight is an insult to the citizenry. Rewarding a pre-selected politico for a job extremely poorly done sends a very dangerous message. It is bad politics at its absolute worst, and will only give rise to continued bad governance. The future will then be consigned to a 1930s type of scenario in which poverty and extremism and the curtailing of rights will all accelerate until the nation is plunged into “The Greatest Depression Of All Time”.

No one can perform that unseemly task as successfully as President Barack Hussein Obama.

State of the Nation 2012
September 17, 2012

Author’s Note:
For the duration of the present global monetary meltdown, there is a economic axiom that is well worth understanding. And acting upon, if possible.

“During times like these,
the financial kingdom takes on a new order of rulership:
Gold is King.
Silver is Queen.
Platinum and Palladium are Prince and Princess.”

© 2012 State of the Nation 2012
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