Fed defends its bond Buy Plan

Bernanke hits back at critics of bond-buying plan
To read full news article click on Bernanke above

"On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed for many years," he says. "As a society, we should find that outcome unacceptable." end quote.

Unless the Republicans want us to duplicate Japan's march into crippling deflation and  prevent the millions from obtaining jobs for years they need to allow Bernanke to buy the bonds.

The reason he is forced into doing this is we are facing a "Gridlocked Congress" 2 years out from 2012 Presidential elections. In some ways we are now in a worse fix than in 2007 to 2009 because of this "killing combo" of events crippling our government from doing anything meaningful except on an executive level. If Republicans succeed in stopping Bernanke EXPECT Deflation and 20 years of experiences like Japan has had here in the U.S. What a nightmare!

Already the chaos of those entering congress who don't really understand world economics begins. That's just what we want. People who are novice Governmental drivers with a possible fatal collision coming up for them to face! And we are all riding in the Governmental Bus they are driving. We'd better pray. Not much else to do now!