Bernanke the Liberal Socialist OR 'Let the Market Decide'

In today's issue of the Wall Street Journal (Thursday June 21, 2007; A3), Federal Reserve Chair, Ben Bernanke shows once again why he, and the monetarist fiscal policy he represents, is at its core, a form of Liberal Socialism more akin to the dying republics of the E.U. than of the robust, versatile economy of the U.S.

Whereas in places such as the U.K., "living on the dole" is a somewhat normative state of existence (i.e. high unemployment rates coupled with state-assistance that stifles hard work), in the U.S.A., we have always prided ourselves in working hard, staying clean (no drugs!), and prospering as a result of hard work!

Well, here is where Ben Bernanke is a "socialist in sheep's clothing." Contrary to Republican Economic Theory in which a looser grip on the Economy allows for greater creativity and greater prosperity as determined by the market, here, sensing phantom 'inflationary pressures,' Bernanke cites the potential effects in increasing inflation as supposedly caused by low unemployment rates.

Thus, in Bernanke's 'vision of America,' we as a People are to 'drive up unemployment' (more people 'living on the dole' of state-assistance through unemployment benefits) in order to 'counter the effects' of potential future inflation!

Am I missing something here?

We are supposed to "INCREASE UNEMPLOYMENT" to fix a problem that does not even exist yet!

To be true, inflation has risen 'slightly' in the past fiscal quarter from 2.2% to a 'whopping' 2.4% (sound the alarms, the 'sky is falling' so said Chicken Little! :-). But, rather than noticing the OBVIOUS causative factor (right in front of Bernanke's Liberal Socialist nose) of an INCREASE IN ENERGY PRICES (not unemployment being low!), Bernanke continues to demonstrate himself unfit for the job.

No, rather than phantom factors such as "potential high inflation due to increased employment of our Nation" (I guess Bernanke likes the E.U. model of having more people living on the dole!), the TRUE FACTOR, and something mentioned right in the Wall Street Journal article itself, is the RISING COST of ENERGY! From Gasoline to Electricity, ENERGY COSTS ARE SKY-ROCKETING, and it only takes a high school "Young Businessman's of America" thinker to examine the OBVIOUS causative relationship. If energy costs are higher, then production costs will be higher. If gasoline prices are high, then transport costs for goods & services are higher.

Mr. Bernanke, hello, welcome to the Land of Rational Thought!

You have chosen the least obvious, least likely factor of high employment as what you will attack (again, you must like the dole system of the U.K.) instead of attacking the problem of high energy and high gasoline prices that are what truly drive up the cost of inflation.

I guess either you are not very intelligent OR more likely, you are an "ideological thinker" who has allowed his Leftist Economic Training to skew the data.

Either way, my prayers are with you and I hope in Jesus' Name that you be replaced sometime soon . . .

Blessings in Jesus,
Rob J King, Neo-Classical Economic Thinker