Rhody Trader

Let’s face it. A great many people (maybe most) in this country (I’m speaking of the US, but I’m sure folks in other countries will share a similar view) are not particularly well-informed on the major subjects of the day. As a result, they tend to believe what politicians tell them because they somehow think that elected officials know what it’s all about.

Newsflash. They don’t!

If you’ve ever watched the dog and pony show that goes on each time the Federal Reserve Chairman makes a visit to Congress, you figure out very quickly that some of those supposed leaders of our nation are completely clueless. The questions are inane. The statements and arguements are either ill-informed or politically spun.

One gentleman during Bernanke’s testimony yesterday (I’m blanking on the name) made the claim that we were in a recession before the downturn in housing. On what basis did he make that claim?

I saw footage of Hilary Clinton on CNBC, I think from Cramer’s show, asking why the $30 billion used to bail out Bear Stearns wasn’t instead applied to bailing out the housing sector? She either has no idea what that JP Morgan takeover was all about, or has chosen to twist it around to pander to voters. Either one is reprehensible.

I’m thoroughly disgusted by all this.

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