Chairman Bernanke and the FED either have their heads in the ground (or up someplace else), or are intentionally destroying the economy of The United States so that it can more resemble the rest of the wretched world. The ideology is to redistribute the wealth worldwide by bringing down America.
The main policy paper at the FED’s Jackson Hole conference was: William White’s, Ultra Easy Monetary Policy and the Law of Unintended Consequences.
The paper and warnings are obviously being ignored.
“Ultra easy monetary policies have a wide variety of undesirable ... unintended consequences. They create malinvestments in the real economy, threaten the health of financial institutions and the functioning of financial markets, constrain the ‘independent’ pursuit of price stability by central banks, encourage governments to refrain from confronting sovereign-debt problems in a timely way, and redistribute income and wealth in a highly regressive fashion.”
Using monetary policy, White concludes all the central banks have done is “to buy time” for governments: “If governments do not use this time wisely, then the ongoing economic and financial crisis can only worsen as the unintended consequences of current monetary policies increasingly materialize.”
Source: Niall Ferguson