Submission to the Federal Reserve Board Members

From an e-mail i got from a friend, I thought it was a well done open letter and deserved distribution.


To Mr. Bernanke and the Federal Reserve Board Members,

What a difference just a few weeks and a few Fed minutes can make....
As I have feared, all of this talk by Mr. Bernanke in regards to the need for additional stimulus, including possible large scale asset purchases, has again caused the U.S. Dollar to depreciate, and for the stock market to engage in "irrational exuberance" in regards to all hard and soft commodities!!!

METALS, GRAINS, CHEESE, MEATS, EGGS, COTTON, FEED, OIL, ETC. HAVE ALL SKYROCKETED, THESE INPUT COSTS FOR FOOD, FUEL, CLOTHES AND DIAPERS WILL BE PASSED ON TO THE CONSUMER RIGHT AWAY, BECAUSE THESE ARE THINGS WE HAVE TO HAVE...

BUT WAIT, YOU DON'T LOOK AT THESE THINGS THAT I MUST HAVE TO LIVE, YOU ONLY LOOK AT CORE INFLATION EXCLUDING FOOD AND FUEL...
SO IT WILL TAKE ABOUT 4-6 MONTHS FOR THESE HIGH COMMODITY COSTS TO MOVE THE CORE INFLATION NEEDLE enough to get your attention, BUT I TAKE AN IMMEDIATE HIT FOR FOOD AND FUEL WHICH MEANS I HAVE LESS DISCRETIONARY INCOME TO SPEND, AND WHAT ABOUT THE INPUT COSTS THAT COMPANIES ARE UNABLE TO PASS ON?? WHAT IS THE END RESULT: MORE JOB'S LOST........

THIS STOCK MARKET RALLY IS THE DIRECT RESULT OF A DECLINING DOLLAR, AND THE DECLINING DOLLAR IS THE DIRECT, OR AS SOME WOULD ARGUE THE INDIRECT RESULT OF FEDERAL RESERVE POLICIES!
I THOUGHT IT WAS THE JOB OF THE U.S. TREASURY TO SET DOLLAR POLICY???
THIS WILL NOT END WELL, ANY TIME THE FED ATTEMPTS TO INFLATE ASSET PRICES AND THE STOCK MARKET THINKS IT IS WAGGING THE DOG, IT ENDS WITH A POP!!!

Please just stop what you are doing and begin to back yourselves out of the corner, allow commodities to correct, allow interest rates to rise, allow people to continue to pay down their debt and build up their savings accounts, instead of pumping it into the gas tank or the dinner table. Reward savers with some kind of return on their hard earned money, and let the stock market go ahead and throw a hissy fit, let it correct 20% or more, and then it can get back to fundamentals for valuations instead of empty headed QUANTITATIVE EASING SPECULATION.... The retail investor has bailed on the stock market and you are hurting them more by artificially propping up the stock market, and artificially keeping interest rates low.

THIS FIXATION WITH THE EVILS OF DEFLATION NEEDS TO MODERATE, IF YOU KEEP ON FUELING ALL OF THIS SPECULATION, YOUR JUST GOING TO MAKE MY LIFE AND MILLIONS OF OTHER AMERICANS WHO DID NOTHING TO CAUSE THIS MESS A WHOLE LOT MORE EXPENSIVE AND A WHOLE LOT LESS SATISFYING....

But what do I know, I'm just an unemployed high school graduate, middle class nobody with an 800+ credit score, who owns his home, has zero debt, and, an actual savings account that you guys are actively and intentionally depreciating.

I'M A PART OF THE "NO YOU CAN'T CROWD" WHO IS BEING FORCED TO FINANCE

THE "YES WE CAN CROWD"


REGARDS,
XXXX XXXXX