Federal Reserve

Ben Bernanke hints the Fed may slow down buying bonds a year from now, and the stock market tanks.

"The Dow plunged 560 points Wednesday through Thursday, wiping out its gains from May and June. The Fed's easy money policies have been a big driver behind the stock market's bull run the last four years. The plunge came just three weeks after the Dow hit a record high of 15,409."

This is probably why Obama said it's time for Bernanke to go. He wants to replace him with somebody who will keep the printing presses running. Let's see how Bernanke has done so far:

"Unemployment has failed to decrease by the percentage that the Federal Reserve had predicted. The crystal ball must have gone a bit cloudy on that day. The US was supposed to be at 5.2% today with an efficient use of resources in the labor market at such a rate. The unemployment rate for May was at 7.6%. The Federal Reserve now holds assets worth to the tune of $3.41 trillion. They stood at $877 billion in 2007. Thanks to QE stimulus."

We're unprecedentedly screwed

"Where will Bernanke be going? Is he going to be retiring to the Caymen Islands to sun himself on the beach and benefit from his well-earned retirement, or will he be ‘helping’ someone else out in the monetary problems?"

He's already printed money and bought his escape from the collapse he helped orchestrate. There's no better job than legalized counterfeiter.