6. QE and ZeroP rewards speculators and penalizes savers.
When Ben Bernanke became Fed Chairman, he took the baton from the most interventionist Fed Chairman in history: Alan Greenspan. And he has run with it. There has never been intervention on the scale that we are now witnessing. There is no way to predict just how our government-dominated economy will come out of this - or even if it will ever be able to so in any significant way. But we know for certain that market forces are being completely overwhelmed. Interest rates do not reflect the cost of money or the risk inherent in many currencies. And our government is guaranteeing the vast majority of mortgages. The Fed has largely removed market forces from the calculus and it has adopted policies that protect the systemically dangerous and fraud-friendly institutions that make up the largest banks in this country. It is unprecedented and fraught with danger. If you look at the very big picture here, we have an economic problem on a scale never before encountered or anticipated. And Ben Bernanke is only moving in the direction of more and more intervention.