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As they say in internet speak, WTF? Aimed at you Ben Bernanke, WTF?

I don’t claim to be an economist or play one on TV. But I certainly can watch one on TV, the one that was in charge of managing the US economy through its most prolific appreciation in American history. That economist would be Alan Greenspan, the economist who says within the next several years interest rates will have to go to double digits to ward off inflation, and the economist who doesn’t seem to caver to pressure from a bunch MORON bankers on Wall St.

I believe in the free markets. In the free market, when a company really screws up, it goes out of business. Laws of the free market economy right? So why the hell are the banks (like the auto makers, airlines, and so many others) being bailed out? Those MORONS kept making (or buying securitized versions of) SHIT loans that there was absolutely no chance would ever be paid back. Said loans are now defaulting and those same bankers are stuck with their thumb up their ass… exactly like they should be!! Please excuse my vile rant but I could not feel more strongly about this.

So then the Fed comes in and cuts rates today by a half point. And like a bunch of SHEEP the markets cheer (as evidenced by the big run-ups all over the world today). What a short-term view on the whole situation. The banks who made bad loans don’t deserve to be bailed out, the investors who realized big returns on the stocks of those companies while it all went on don’t deserve to be bailed out, the moronic advisors who told people to buy those stocks don’t deserve to be bailed out, and the idiots who TOOK these loans on their home with no chance of paying them back don’t deserve to be bailed out!!

If inflation gets out of hand as a result of this rate cut, the economy goes to crap, and those (very few) of us who were smart enough to NOT be involved in this crap have to suffer because of it, I will be so pissed!!

WOW, calm down Dan (deep breathe taken). Long story short, I think the rate cut was bad idea, I think a rate cut that big was an especially bad idea, and I don’t know why anyone thinks this will change anything about the current credit crunch. The people who made the best moves in a free market and should be rewarded relative to others got screwed today I think.