Bernanke's Word Cloud

Bernanke's Word Cloud by Reuter's taken from his Jackson Hole statements this week on the Fed's disposition at this time. The take-away from all of these words in their context however is that no action is imminent.

Inaction through intimidation is the new paradigm in American in economics. The Tea Party speaks ____________ but carries a big stick. Have fun filling in the blanks. While Rome burns, it seems that Congress, the President, the Fed, in that order are standing idly by. In this case, they are not playing a fiddle but are cowering under the big stick wielded by the tea Party and its minions. More moderate Republicans and centrist leaning Democrats are frozen in fear of retribution, and Obama's base and liberals are foaming at the mouth over the injustice of it all.

Economists and intellectuals continue to daily sing out possible solutions and stand on soap boxes if they can to proclaim their definitive and detailed plans of action that will steer this big USS Economy out of the narrow straits of doom. They throw hissy fits, wring their hands, rail at the President, unleash their anger at Town Halls (if allowed in), write op-ed pieces, moan and cry in despair.

The notion that we can and should do nothing, other than starve the beast, seems to hold powerful sway over the entire assembly of the right. This narrative has become so prevalent in their FOX network propaganda and fundamentalist capitalism dogma that it is firmly planted as the only truth. They hold onto it for dear life, flinging aside all entreaties offered that there might be another way. How well is the "starving the beast" approach working for us now?

For now there is time for more hand-wringing. Meetings are scheduled for September 20-21 to hear debate on this issue again. Can we all pitch in to get Bernanke a coach to bolster his confidence and a bottle of Beam to fortify his courage for those talks. Maybe he'll take the necessary steps to American economic recovery at that time.