MONEY: The FED screws us up

http://www.nationalreview.com/kudlows-money-politics/274153/bernanke-rescue

Bernanke to the Rescue
August 9, 2011 5:28 P.M.
By Larry Kudlow

*** begin quote ***

Damn the torpedoes! Up periscope! Full speed ahead! Ben Bernanke and the Fed to the rescue!

In a startling move Tuesday, the FOMC announced that its zero-interest-rate target would be extended for two more years through the middle of 2013, marking the first time the target rate has ever been pegged to a date certain.

*** end quote ***

Absurd!

The FED is the problem.

Let the market operate and reset the prices to value. Will folks take a hair cut? Yup. But remember Japan’s lost decade. How’s that working out for them? Want that here? Just let the Gooferment muck about with no plan!

Argh!

# # # # #

TECHNOLOGY: Lost manual control

http://www.stltoday.com/news/local/metro/article_bfd1cc1c-089b-5682-9465-955bcab1fbea.html

Home / News / Local / Metro
Officials say mummified Jennings woman thought dead for years was receiving benefits
BY MARLON A. WALKER • mwalker@post-dispatch.com > 314-340-8104 | Posted: Tuesday, August 2, 2011 12:07 am |

*** begin quote ***

JENNINGS • A woman whose mummified remains were found earlier this year in the Jennings home she had shared with her daughter had been receiving Social Security benefits, the agency confirmed Monday.

*** end quote ***

Remember when some genius eliminated mailing Social Security checks saving a lot of administrative expense?

Well, here’s the collateral damage.

Making old folks show up at the bank with their check at least ensured that they were alive and hence being properly paid.

It may be a good trade off but there should be a compensating control.

# # # # #