We have survived the dot com bubble. We may be surviving the housing bubble. That might be coming back for a revisit. There has been talk of an education bubble brought on by the insane rise in the cost of a college education. But there is another bubble out there that no one is discussing yet. It is the Bernanke bubble.

Ben Bernanke is the Chairman of the Federal Reserve Bank. The government’s bank. That job is the most powerful position in the financial world. When a Fed. Chairman is appointed he is the top banana. He is the boss. He is responsible for all final decisions. And Mr. Bernanke is out of control.

Mr. Bernanke has President Obama’s back. He is trying to keep the lid on an economy that is overspending and under financing for that over spending. He is doing this in two ways. First, he is forcing interest rates down to an unnaturally low level. And second, he is printing money as fast as his presses will run in overdrive and powered by tri-lithium crystals.

The reasons for this go back to our old friend, John Maynard Keynes. Liberal politicians love Keynes. He validates their dream of a far flung powerful government that controls whatever and whomever they desire. A government that has an endless source of money to spend as they see fit. It is easy for a conservative to disagree with Keynes. But today’s liberals never really understood Keynesian economics. They have taken it levels beyond the original intent. Keynes theorized that the government, in a downturn, could and should go into deficit spending to give an upward jolt to the economy. But he insisted that the government be financially stable and the effort short term. Our government finances today far from stable and the overspending has been going on for years.

One might ask why Mr. Bernanke would take these steps. It would be nice, when people in power took extraordinary measures, if they would explain to those that are affected, why they are doing it and what the results may be. I think that the step of forcing interest rates down is intended to prevent inflation but it also keeps the interest payments, the governments first obligation, down. That sounds good, but it also stifles growth for those that need to be most careful with their money. If you are old or poor but with some reserves and prefer the security of a bank for your nest egg, those same low interest rates rob you of the chance to see your small reserves grow. Check your own interest rate. It is probably around one half of a percent.

The cranking out millions of dollars on the governments printing presses partially covers for President Obama’s flagrant overspending. Because of this we go a little less far into debt every day. However, every dollar printed dilutes the value of our money supply forcing prices to go up and real wealth to go down. The Weimar Republic tried this in Germany before WWII. Check the history books to see how well that worked out for them. This is just another back door method of taking wealth away from American citizens.

If you wonder why the economy is not growing and employment isn’t increasing, just look to the government’s economic and fiscal policies. If someone came to me and asked me how I would bring a country’s economy to a screeching halt, my answer would be; increase taxes; increase regulation on business; put the country in heavy debt; dilute the value of their currency. Does that sound familiar? It does to me. If the Bernanke bubble finally gets so big that it is unsustainable, it will be the explosion heard around the world.