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Forgive the repeated alarms sounded in this space for four months now, but has anybody at the $@^%^@*^%(!!*!! Federal Reserve Board, a place apparently full of $%&@%*^@#*%(&!!!! ostriches with their heads in the %*@#%*@#*)!!! sand (and yes, those are expletives NOT being deleted!), noticed that their "weak dollar" policies are causing a vicious spiral of ever and ever lower dollar strength that itself destabilizes the financial markets even more and thus, by the Fed's utterly idiotic viewpoint, leads the Fed to conclude that it needs even MORE weakness in order to bail out the markets? Forgive the disgusting metaphor, but I can't think of anything more appropriate: The Fed is doing to the financial markets something similar to what a doctor would be doing if he were faced with a case of bad diarrhea and treating it with more and more Ex-Lax.
Today the WSJ weighs in with a superb editorial on the subject. Read it. Now. And then start yelling at your congressman to yell at the White House to yell at the Fed -- and, best of all, to get rid of Bernanke and replace him with somebody with a %*^#%*^ clue.