Exactly right, Mr. Will! The Federal Reserve is an outgrowth of the
progressivist impulse to tinker with forces they don't really understand.
Economic variables are perhaps not infinite, but are far beyond the scope of any
one man or woman (or a group of them) to properly understand. This
interventionism has turned the economy into a Rube Goldberg-like contraption
that needlessly breaks down and invites endless reconfiguration and repair.
Along the way, the Fed's crony bankers get richer and more powerful at the
expense of the rest of us. The Fed has been instrumental in
magnifying income disparities and disrupting national and global economies. It
is now responsible for delaying any hope for economic recovery by propping up
businesses that should have been allowed to liquidate.
It's about time we saw someone in MSM tell the truth about the Fed, and in
no uncertain terms. Bernanke/the Fed is madly pulling the levers of the printing
press and reversing the wheels of the interest rate, as clueless and full of
bluster as that wizard behind the curtain in Oz...only in this case, the result
is irreversible damage to a real economy.