Chairman Bernanke kissed up to every politician and gave them exactly what they wanted today, his endorsement to buy votes under the guise of providing immediate and temporary fiscal stimulus. Bernanke went on to provide two caveats that should scare the heck out of everyone in the free world.

The first caveat was that any stimulus should be immediate so as to have an effect when it is needed, meaning now. The second caveat was that any stimulus should be temporary so that it would not over-stimulate the economy when it no longer needed stimulation. What Bernanke is saying is that government should go ahead and tax us, then filter that money through the least efficient sector of the economy [government,] and then borrow enough to cut us all a check so that we can spend again and get the economy rolling.

WHOSE MONEY IS IT?
1. While the above course of action sounds stupid, and it is, it sounds remarkably like what nearly every democrat candidate is currently suggesting. Now they have the tacit endorsement of the chairman of the Federal Reserve. Nice going Ben.

2. By conceding that government stimulus would help, Bernanke just admitted the problem has gone beyond the banking system, into the economy at large, and the Fed cannot fix it alone. Ooops.

3. The  philosophy behind this thinking is what is really terrifying. At its core is the notion that government is the regulator of all things economic. They decide if you are making enough or whether you are making too much and overheating the economy. And if you are, they slow things down, not just by making borrowing more expensive [higher interest rates] but by taxing. If government gets to decide what you should make, the money is not yours. It's the state's. And that's not Capitalism.