Monday, March 31, 2008

ime

A few months ago, our world was stable and your retirement was secure. Today, suddenly, all heck is breaking loose and your future seems like a role of the dice.

A few months ago, Wall Street and Main Street were counting on Fed Chairman Ben Bernanke to protect them from disaster. Now, suddenly, they have awoken to the realization that his efforts have done nothing to end the credit crunch or save the economy ... and have done everything to gut the value of the U.S. dollar.

Just a few months ago, most Americans believed they could count on a dollar to buy a dollar's worth of food, energy and other products. Today, inflation is devouring our buying power at the fastest pace in nearly 30 years - and it's accelerating.

In response, Mr. Bernanke is panicking. He's dishing out hundreds of billions in new "monopoly" money even as we speak. He's getting ready to cut interest rates again. He's gutting the dollar, driving inflation higher. And still, credit markets and the economy are swooning.

Millions of Americans are stunned. And for Wall Street, it's judgment day.

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