Posted 8 years ago on July 18, 2012, 11:47 a.m. EST by richardkentgates
This content is user submitted and not an official statement
Yesterday, the FED chair was again before congress. Politicians from both parties hounded Mr Bernanke about what should be done to combat sluggish growth. So far when the fed takes action what we see are gains for Wall Street but there is no sign that it is having an impact on the real economy. As an advocate in the past for increasing the minimum wage, Mr Schumer seems now to be pissing in the wind with his current approach as the endless stream of cash flowing from the FED will inevitably lead to inflation, making any wage legislation pointless outside of simply keeping pace.
The Democratic party cannot pretend to be the people's party while they continue a practice that so far has only profited Wall Street and drives inflation that is being held at bay by other financial trickery. Mr Schumer has spoken more than once about the ignorance of Tea Party members. Does he think the same of his fellow Dems? Does he think I don't see him feeding Wall Street when he should be focusing on minimum wage instead of letting Obama ride it as a campaign ploy? We shall see.