Desperate for innovative solutions. Ben Bernanke is really thinking outside of the box…and continuing the same mindless monetary policy the Federal Reserve has followed for years:

Print…more…money:

The Fed has been extremely creative about using its existing legal authority and massive pool of resources to try to stabilize the financial system during the past 14 months. Just yesterday, it announced it would triple the size of a special program through which it injects cash into banks. It also vastly expanded a lending program for foreign central banks to make $620 billion available to pump into the financial systems in other large countries.

When will they ever understand? Destroy our currency and destroy our economy. I’m not an economist. I don’t even play one on TV. But this seems just maniacal.

Here’s a rather simple explanation on why the bailout as poppycock from the get-go.

The Conservative Cajun forwarded me this link to an interview with Arthur Lammy, an energy analyst. About 4 months ago I joked that, “The time to buy gold has passed, the time to buy bullets is now”. Gold is still probably a good investment.

Here is an interesting WSJ article on the economy and how it just MIGHT not be the end of the world…unless of course we make it that way with flawed policies. Read the whole article, but this is my favorite part:

The irony is almost too much to take. Yesterday everyone was worried about excessive consumer spending, a lack of saving, exploding debt levels, and federal budget deficits. Today, our government is doing just about everything in its power to help consumers borrow more at low rates, while it is running up the budget deficit to get people to spend more. This is the tyranny of the urgent in an election year and it’s the development that investors should really worry about. It reads just like the 1970s.

The ’70s. Now that’s WAY scarier than the housing market.