Federal Reserve Chairman Ben S. Bernanke said he has “obviously limited” room to lower interest rates further and may use less conventional policies, such as buying Treasury securities, to revive the economy.Color us darkly bemused. It looks like today's Bush administration strategy for climbing out of the recession we're in is to create financial paper denominated in the shaky U.S. dollar, then we sell it to ourselves at an inflated price in hopes of driving up the price others will pay and thus driving down the interest rate.
Hey! Great idea! We're going to use it, too. We just sold ourselves a $1,000 IOU we created yesterday for $1,500. You can have one just like it for the same price.
Any takers? How about all of you 80,000 people in the auto industry?
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