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It does not take a genius to understand why consumer spending is weak. 1.      Unemployment rate is 9% 2.      Real wages are falling3.      Income advances go to the wealthy4.      Middle class is shrinking5.      Jobs hard to find6.      Approval ratings of Congress and Obama at record lows 7.      Consumers have high debt ratios8.      Home prices are still falling9.      Homeowners are trapped in their homes, unable to refinance10.  Boomers need to save for retirement However, those simple facts are far too complicated for a PhD like Fed chairman Ben Bernanke to figure out. Please consider Bernanke puzzled by weak consumer spending Federal...

Republican Leaders Warn Bernanke Against QE3 Zeke Miller Sep. 20, 2011, 7:13 PM | Top Republican lawmakers in both chambers of Congress warned Federal Reserve Chairman Ben Bernanke against pursuing another round of quantitative easing after tomorrow's meeting of the Federal Open Market Committee. Questioning the efficacy of the first two rounds of monetary easing, Speaker of the House John Boehner (R-OH), Senate Majority Leader Mitch McConnell (R-KY), House Majority Leader Eric Cantor (R-VA) and Senate Minority Whip Jon Kyl (R-AZ) said they are concerned another round of QE could "exacerbate current problems or further harm the U.S. economy." Here's...

On Twitter, Nouriel Roubini declares that the latest currency interventions from Switzerland and Japan represent the start of QE3, ultimately ending in more Fed easing.