Obama to stick with Bernanke as FED Chief with comments

Washington Post, August 25, 2009 on page A11:

"Bernanke asked Congress for a $700 billion financial bailout, and then use that money to make huge investments in Citigroup and Bank of America, among other firms."

Comment: Funds in the Citibank and Bank of America should be OK with the decision to reappoint Bernanke. Americans and others do trust the world-renowned Citibank and Bank of America with the name as American Bank even though it is a private bank but backed by America i.e. USA with solid reputation. Big banks are too big to fail!

If confirmed, Bernanke wold face a difficult next four years. The economy is very weak, with the unemployment rate at 9.4% and likely to climb in the months ahead. The financial system remains fragile.

Comment: When I compared notes with former FED chairman Arthur F. Burns,he agreed with me apropos of humanpower training. In other words,fiscal and monetary policies cannot operate in a vacuum. Humanpower Policy is designed to generate jobs for the jobless folks.

Gene Weingarten is a humorist: weingarten@washpost.com:

"The size of the public debt, precise to the penny. It is currently at $11,605,521,079,842.13." Published by The Washington Post Magazine, August 16, 2009.

"Finally, we must address the central question of the day: How to inject humor into your workplace. My suggestion: Pranks. For example, one day you could issue a press release that the public debt has now reached "googo1," a figure that exceeds the number of atoms in the observable universe. Or perhaps: We owe it to ourselves. That sounds OK as well. We must have faith,hope and charity for all those who are involved in such a significant undertaking for humanity. China is the most populous nation in the world so USA and China must cooperate to resolve the global financial crisis. Needless to say,the World Bank and International Monetary Fund(IMF) are working for the same objective of stability and economic development in the name of globalization for all nations and all the peoples.

Francis Shieh a.k.a. Xie Shihao, trying to learn the truth in economics but "truth is multi-dimensional" as per Professor John K. Galbraith of Harvard. Harvard is rated as the best university in the world so we must respect such honorable institution.

Tuesday, August 25, 2009 at 10.56 a.m.