The Fed Fiddles While the Dollar Burns

What will happen when interest rates take off and the Obama administration wants to borrow, spend, tax and print more money? You just cannot make it up. Meanwhile, Fed Chief Bernanke tells aghast Americans that he is 100% certain he can keep inflation under control. Are either the Fed chief or the president noting that gold now trades at over $ 1500/oz? Let me be clear. Inflation is already out of control. The dollar is cratering versus hard currencies like the Swiss franc.

Republicans should not vote to raise the debt limit. The Fed, an unconstitutional body that should be shuttered, not only has caused another asset bubble, but also refuses to accept the rightful blame.

And President Obama wants a second term as president? I am still perplexed as to how a gentleman with as thin a resume as he has got one term. Just the mention of another go-around is disturbing. But Americans also voted for Wilson, FDR, Johnson, Nixon, Carter, Clinton and Bush II, so go figure. The Founders intended the presidency to be a weak office with a handful of clearly enumerated powers. It is time to return America to the type of Federal Republic intended by our Founders.

Do the Republicans have a Federal Republic government candidate to run in 2012? I am unimpressed with what I see to date. Whoever runs will not receive my support unless I hear a powerful anti-intervention message, powerful support for the Second Amendment, and a mandate for dramatically smaller central government.