Bernanke, the Great One

It is anticipated that Mr. Ben Bernanke, current Chairman of the Federal Reserve Board, will resign his post effective in the Fall.

After the disgraced performance of the former Chairman, Alan Greenspan, who pandered to the dictates of the big corporations and the very wealthy plutocrats during his tenure of many years, Bernanke's policies set the banking industry on a viable course.  Not only in America but around the world--in England and in Japan.  He could not do what he was also charged to do, however:  affect the unemployment rate.  Those statistics are the result of structural, technological changes in business and industry.  Only when the United States adopts a policy akin to that of China, namely, insisting that industry hire those who can work regardless of industry's commitment to its shareholders for maximum profit return will that problem be solved.  It's a simple solution--keep workers busy and out of trouble!  But capitalism seems unable to adopt any constraint upon its lust for profit.  Bernanke actually attempted to restrain unbridled capitalism by keeping the interest rate low, thereby affecting bond yields and the inflation rate;- but he needed industry's commitment to hiring the unemployed. something the capitalist would not consent to.

This man, Ben Bernanke, will go down in history as the greatest of Chairmen. He was needed at a time when faith in the American economy was waning, both in the US and in Europe.