Please Mr. Bernanke...April 2, 2008: 10:41 AM ET
Could you lower the interest rates some more? We'd like there to be more money in the system so we can borrow it. Also, the private capital and hedge fund guys could use some easy money, too. How else can they keep on generating wave upon wave of unnecessary, destructive acquisitions and divestitures?
Could you give all of us a break on our existing mortgages, too? Like, if we can't pay our monthly nut, could you do it for us?
Could you make it easier for us all to get more mortgages after we default on the ones that those mean and stupid bankers gave us a few years back, when they were trying to make a quick buck by fooling us into taking big loans we eventually couldn't repay?
Could you do something about the dollar, too? Those mean Japanese and Europeans have currencies that are getting more and more expensive against our own. This makes it very difficult to buy their goods and services at the kind of prices to which we had become accustomed. Like, many of us can't afford two weeks in the south of France anymore. And England is no bargain, either. There must be something you can do.
Could you also see about the price of gasoline? I know you work very closely with Mr. Bush. His family has tremendous contacts in the oil-producing part of the world. Perhaps you could put a word in with him and he could speak to them about easing things up a bit. Pretty soon it's going to cost nearly $100 to fill up my SUV. That hurts! After all, it only gets 8 miles per gallon. Maybe you could spare a couple of thousand for each of us, so we could turn our cars into hybrids! How about that idea?
Speaking of cars, people are now buying way fewer of them this year, partly due to the fact that car companies have been advertising less because they're strapped for cash. It's a vicious circle! They don't advertise... they don't sell cars... they make less money... they choke off their marketing and advertising budgets even more... you can see where it's going. Perhaps if you provided $10,000 to any American who wanted to use it to buy a car? And subsidized the advertising budgets of auto makers at the same time. A key driver of the economy would immediately perk up and thank you bigtime!
Could you at the same time give us all a few thousand dollars to spend at Wal-Mart, J.C. Penney and other retailers who are right now having a tough time, too? Helping the big chains that motor our mall-based economy is just as important as helping the big banks you seem so concerned about. How about a $10 trillion bail out for retail?
Mr. Bernanke, you have all the money in the world and apparently the will to wrestle this darn situation of ours to the ground. These are just a few suggestions. I'm sure others could come up with more. You don't even need to think out of the box. You own the box. Expand it! Dress it up! Make something happen!