Fed's New Invention

Fed's Bernanke went to Capitol Hill and defended the Fed's action to print more money--some $ 600 Billion. Bernanke told lawmakers the program could create 700,000 jobs over two years.

Wow! I must admit that I am bad at math, but if Bernanke wants to spend 600 Billion dollars to create 700,000 jobs, I wonder why not just give every one of those lucky 700,000 men and women one million dollars each? It would almost amount to what Bernanke wants to waste (again).

On top of that, with one million dollars in their pocket, I can safely say that mostof the recipients would likely start a new business, creating even more jobs for Americans. This may seem to be too simplistic, but Bernanke's numbers are not adding up! Unless he has in mind those lawyers and banksters whose fees amount to 99.99 per cent of the proposed money.

Bernanke defended his new scheme in a private meeting with members of the Senate Banking Committee (whose members will ultimately stand to benefit from such a largess).