My theory is that the reason Ben Bernanke is making chatter about ending the quantitative easing program earlier than he expected, is not because the economy is improving enough to take the Fed's training wheels off the market. It is exactly the opposite reason, he and the administration know that the economy is headed for a cliff from the disaster that their fiscal policy has created. In fact, it has been a combination of Bernanke's "don't stop the printing presses from spitting out 100 dollar bills until I say so" along with the Obamanomics of burdensome regulation and higher taxes, that has killed the goose that laid the golden egg called capitalism.
Facts are facts, and as the man once said they are stubborn things. The fact is that the country finds itself in a much worse financial condition than it was after the 2008 financial meltdown. A meltdown caused by Liberal Democrat social policy that forced loans to be made to people who could never pay them back, artificially ballooned housing prices by making 100-plus percent loan-to-value loans commonplace, loosened mortgage brokers' licensing standards so low as to pollute that industry with charlatans, taught mortgage brokers how to bundle bad loans with good ones and sell them on Wall Street as investment vehicles and lowered borrowing standards to the point that income and down payment requirements were eliminated. And as a community agitator, Barack Obama was front and center, using intimidation tactics to force lenders to make loans to the poverty-stricken.
Another stubborn fact is that as much as the Obama administration has tried to fudge the numbers with unemployment, the real unemployment, the U-6 number the government reports every month, is around fourteen percent. There is no arguing with the stubborn fact that the labor force participation rate has dropped to its lowest level in over 30 years and foretells another stubborn fact, i.e., that there are over eight million fewer people working today than there were at the beginning of Barack Obama's presidency in January 2009. And with the tsunami of over 15,000 new regulations imposed by the Obama regime on business, don't expect companies to be adding many new jobs in the foreseeable future. ObamaCare alone is now estimated by the Congressional Budget Office and others to cost the economy millions of jobs over the next few years as it is fully implemented.
The debt caused by President Obama and Federal Reserve Chairman Bernanke is so astronomical and crushing, that this stubborn fact is too gruesome for many to even admit. President Obama has created more debt through his federal government expansion than all the debt created by all presidents through Bill Clinton. And by the end of his second term, he will have doubled the debt from the level it was at when he took office. He will have succeeded in burying this country in an inescapable grave that will restrict future generations from freedom and liberty, thus killing the aspirations of the Founding Fathers to have a government subservient to its people. And that is a stubborn fact we will all have to live with in the Obama future we have allowed to infect the greatest and freest nation the world has ever seen.