Fed Chairman Ben Bernanke Has Confidence in U.S. Economy

I am going to be very direct with what I am going to say.  Some of you may consider that I have gone too far in expressing my opinion.  Then again, it is my blog, isn't it?  This man, Bernanke, must be relieved of his Chairmanship now, not later.  We can not afford his monetary policies going forward.  Period!  I thought the next President of the United States will be the most hated individual in this land; however, I now believe it will be Ben Bernanke.   Just listen to his statement before Congress.  He is encouraging retirees into extremely risky investments, which will not play out very well in a financial sense.  As a matter of fact, these retirees will probably lose everything they have invested in these risky securities!  That includes municipal bonds (Alabama, anyone?) and stocks.  In addition, he admits that his own son is on his way to racking up $400,000 in debt as he makes his way through medical school.  This whole educational thing is a bubble in itself that will burst very shortly.  I don't care if you are in medical school or getting that degree in business, education or what.  You will not be able to pay off those kinds of student loan debts.  Why? Because you will not have the financial wherewithal to make those monthly payments.  But you say, I will file bankruptcy.  Ok, go ahead.  However, those student loans will not be forgiven like all that credit card debt that you have run up.  How do you thing you received those student loans in the first place, on your good looks?  Those financial institutions knew exactly what they were doing.  The trouble is, you did not.  In other word, you will be a slave to that lender of your student loans until you die.  Bottom line, simply enjoy it while you can; because the party is ending very soon.  As a matter of fact, sooner than you think.