While Congress spent another day playing political “Clue” — Senator Dodd — with the red pen — in the backroom, Ben Bernanke reminded us once again why the Federal Reserve is currently the most powerful institution on the planet. Many of us have been led to believe that the foundation is being laid for economic recovery, however recent acts by the Fed amount to a significant escalation in our war against deflation and are additional indications that our economic situation may be more grave than most of us believe. Continue reading →