Losing Control of Monetary Policy?

The hints that our monetary policy is on the edge of the abyss are starting to pop up everywhere?

Does anyone see this?  Or are we just running around eating, drinking, marrying and giving in marriage...as if NOTHING BAD COULD EVER HAPPEN?

Here is a SERIOUS name hinting that the Ponzi scheme that the Federal Reserve is involved in could end up in real big trouble.

Four economists, including a former Federal Reserve governor who has co-written research with Chairman Ben S. Bernanke, warned that losses from the central bank’s more than $3 trillion balance sheet could lead to the Fed losing control of monetary policy.

“The combination of a massively expanded central bank balance sheet and an unsustainable public debt trajectory is a mix that has the potential to substantially reduce the flexibility of monetary policy,” the economists write. “This mix could induce a bias toward slower exit or easier policy, and be seen as the first step toward fiscal dominance. It could thereby be the cause of longer-term inflation expectations and raise the risk of inflation overall.”

The economists say that the Fed could incur substantial losses that might occur when U.S. deficits are still high and Congress and the White House have been unable to put fiscal policy on a sustainable trajectory.

Here;  http://www.bloomberg.com/news/2013-02-22/economists-warn-fed-risks-losing-control-amid-budget-deficits.html

Losing control?  Substantial losses?  How can we avoid that?  By putting fiscal policy on a sustainable trajectory.

Ummmm.....yeah....that's not gonna happen.

We can't even agree on a few BILLION of cuts....forget about a few TRILLION in cuts.

Who was this guy anyway?...some no-name quack??

Ummm...no....it was Ben Bernanke.

"Please stay seated in you cart until the ride comes to a complete stop...then exit on your left."