Federal Reserve Chairman Ben Bernanke gave a speech Tuesday in which he said the economy’s greatest troubles — high oil prices and supply chain disruptions from Japan — would soon pass.
Want to know why our economy is in trouble? Because toadies like Bernanke think our biggest problems are oil prices and supply disruptions.
Our biggest problem, period, is employment. If people aren’t working, they aren’t making wages, which means they’re not buying anything. Consumers’ activities account for 70% of the U.S. economy. Fewer wages means less demand, which means weak economy.
The longer Bernanke and people like him are in power, the longer we’re going to have a weak economy.