How long will the American people wait for their government and in particular the Federal Reserve to take adequate measures to halt the ever decreasing dollar...the entire world is now on the edge were the dollar will loose for ever its value, the dollar will be replaced by other currencies (euro)...if the US continues to loose its world status and other nations take its place then we will have a new world order were the US will no longer be the super power but will be controlled by Iran or Venezuela ...unthinkable ! !! it can and will happen if the US continues in this path..The Fed has been playing the equivalent of Whac-A-Mole as financial turmoil keeps cropping up in new and unexpected places, yet many of the problems facing the US are beyond its reach.
Federal Reserve Chairman Ben S. Bernanke may be facing something worse than a loss of personal credibility on Wall Street and in Washington: waning faith in the ability of the institution he leads to turn around the economy and the financial markets anytime soon.
Bernanke has reached deep into the Fed's toolkit to come up with innovative ways to head off a recession and restore some calm in credit markets. While many have initially been greeted with rallies in stocks, cumulatively they haven't yet had lasting impact on bringing down credit costs and setting the stage for economic recovery.
Home buyers are unlikely to put down offers on houses that they think will lose value -- no matter how much the Fed does to lower mortgage costs. Banks with mounting loan losses will shy away from lending to borrowers they think might go bust -- no matter how much money the Fed pumps into the financial system. And investors will remain jittery -- even after the Fed throws a lifeline to struggling financial institutions, as it did last week with Bear Stearns Cos.
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