Double Barrel: The Debt Bomb and Bernanke

“The Fed has made a desperate bid to perpetuate a fatally flawed government by propping up their debts as well as those of a fatally flawed banking system by means of a fatally flawed currency. They have chosen to do so by issuing an unending stream of Federal Reserve Notes (aka U.S. Dollars). A Federal Reserve Note is itself a debt — a promise to pay. To expect the open-ended emission of ever greater quantities of these debts to 'cure' an existing debt problem of monumental proportions is the acme of absurdity.”
— William Buckler
The Privateer, Sept. 16

No one knows exactly when, but every day Congress and the president don't CUT spending meaningfully — actually reducing spending below the previous year — the federal Debt Bomb explosion grows nearer.

And then there is Federal Reserve Bank Chairman Ben Bernanke. Last week, he made economic calamity a certainty, placing a tank of gas next to the bomb and standing ready to light the fuse.

We know what the leadership gurus say: If you're CEO, you need to project optimism to your troops, not doomageddon. But when you see the guy standing with a lighter next to the bomb and gas can, it's difficult to look as if there is going to be a good outcome.