Ben Bernanke Gives Ultimatum To Wall Street

Now, when I first heard the report saying that to improve the economy, one needed to improve the jobs climate, I naturally thought that meant corporations need to hire some people. When I heard that it was Fed Chair Ben Bernanke who said that the jobs market desperately needed to improve, I thought he was giving an ultimatum to Wall Street. After all, all those companies have the power to hire people.

But no! He was chastising Congress for the labor market. And said, if they don’t extend the tax cuts to the wealthiest Americans, the country is going down the toilet on January 1st.

Of course, he chastised softly, and gently, as if he weren’t blaming the Middle Class.

But really, the rich are too “nervous” to make a move. They are paralyzed with fear about their taxes going up. And they won’t do a thing until the middle class lifts her skirt and gives up Social Security and healthcare.

With trembling hands, the bankers and brokers were quoted in the press as agreeing with the Fed Chairman. The tax cuts are expiring! The tax cuts are expiring! It’s a “fiscal cliff” in which the economy is teetering! Only the wealthy holding on to their money can save us! Only middle class sacrifices will save us!

We all know that Ben Bernanke, and Jamie Dimon, and all their friends, would never dream of giving up their retirement plan, or benefits. They are the deserving. And they don’t feel any responsibility to the rest of us. We are the rabble.

I will just go ahead and be a cab driver. And my husband will be, too. And we’ll move my mother in here to take care of the kids. And we’ll drudge and slave and die in the gutter, because when we’re too old to drudge and slave, there will be no social safety net to catch us.

You see, it’s not about Wall Street not taking responsibility for its actions, and making us pay for the window it broke with their rock throwing investments.

Bernanke says, Congress needs to fix the jobs market by not making the corporations pay taxes.  (JP Morgan alone gets $14 billion in federal subsidies – i.e. welfare — which it uses to pay its executives huge salaries and bonuses, according to a study done by the IMF)

The rich have had their “temporary” tax cuts since 2003. The economy has worsened since then. I’m trying not to conclude this post by telling Bernanke to go fuck himself. Why stoop to name calling? I am a rational human being…

I wonder if my Senator will tell him?

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3 Responses to Ben Bernanke Gives Ultimatum To Wall Street

  1. This whole thing is nuts, the economy is a closed system, when the rich hoard the money, there’s nothing circulating and we all suffer. It’s like the heart saying, “eh, I think I’ll keep my blood here until all this chaos passes.” Which would utimately kill the heart. They don’t seem to realize that without us, they don’t make any money…

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