Most savers agree Bernanke is a pernicious snake. But even snakes are focused on self preservation. Here is the analysis:
Bernanke is going to do everything he can to re-elect Obama. Obama will once again seek to retain his services when the matter comes up next year. If Romney, or some other Republican, is POTUS next year, Bernanke is toast. And he knows this!
Similarly, the FRB will gladly go along with any "elect-Obama" agenda. They are in situations analogous to Bernanke's. They all want to retain power. And they all (well, mostly all) are "true believers" in what they are doing.
The way to re-elect Obama, for all of them, is more loose money, more low interest rates, more wealth redistribution. This means for us savers more pain. Our sole chance is to cast aside Obama, and by that same process to jettison Bernanke. We can only hope.
