Mandatory Wednesday Malloy Truthseekers check in!!

cal04

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Wed Feb-27-08 09:06 PM
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Mandatory Wednesday Malloy Truthseekers check in!!

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I'm Talking 'Bout Money, Honey
February 27, 2008
Federal Reserve Chairman Ben S. Bernanke testified before the House Financial Services Committee today on the nightmare that is the current US economy. According to Bloomberrg.com, "Bernanke's testimony came as government reports today showed the U.S. expansion, now in its seventh year, is in peril. Durable-goods orders fell 5.3 percent, more than forecast, in January as companies cut spending. New-home sales fell last month to the lowest level since February 1995 and house prices slid by a record 15 percent from a year ago."

In his testimony, Bernanke admitted that 'mistakes were made and indicated that the "U.S. central bank is prepared to lower interest rates again even amid signs of accelerating inflation. Consumer prices last year surged 4.1 percent, the most in 17 years, spurred by higher fuel and food costs. A government report yesterday showed the 12-month increase in wholesale costs accelerated to 7.4 percent in January, the biggest jump since 1981." Will simply cutting interest rated - yet again - be enough to turnaround this recession? And what about the high cost of fuel and groceries? How is that being addressed?

And speaking of disasters, has anyone seen President Chucklenutz lately? Is he still dancing around Africa? Just curious. Maybe the anchor-bots are too focused on the campaign politics between Hillary and Barak to turn their cameras toward the current kook at 1600 Pennsylvania Ave.

Last night's Cleveland debate between the leading Democrats was seen by most pundits as a return to civility after a week of mud-slinging (primarily by Hillary) and sarcastic barbs. But don't let the cooler heads fool you. The rhetoric is likely to amplify over the next few days leading up to the key primaries in Texas and Ohio. In may be the two most important primaries in recent American history. With the war in Iraq, the failing economy, the enormous US debt, the lack of health care, the bruised and battered American global image, the ruined military and ravaged Constitutional rights, voters must decide which candidate can best begin to repair the ungodly damage of the Bush Years?

But back to the important news that is impacting Americans today - what will Congress and the Justice Department do about Roger Clemens?

--KBM

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