Freedom Line Blog

In an interview on CNBC’s “Squawk Box” this morning, Mark Bertolini, the Chairman and CEO of Aetna, explained that ObamaCare is “really not an affordable product for a lot of people.” He goes on to say that we “have to have a more affordable system.”

House Minority Leader Nancy Pelosi sat for an interview with CNBC’s Maria Bartiromo last week on the state of the economy. Based on her remarks here, we can conclude that — as dismal as the current downturn is — it would only be worse if the Sage of San Francisco and her ilk were still running the lower chamber:

h/t: Hot Air

CNBC’s Fast Money quotes an investment strategist who says that when Federal Reserve Chairman Ben Bernanke gives his first press conference on April 27, his remarks “could induce a 10 to 15 percent correction” in the market.  Here, “correction” means “drop.”

The reason the market might drop one-tenth of its value in a matter of hours is due to some analysts’ fear that Bernanke will not continue printing money (i.e. quantitative easing) to inflate the value of assets.  When values return to more realistic levels, investors are likely to stop banking on government-distorted policies to bail them out.

The purpose of the Fed is to tinker with the money supply and interest rates to stabilize the economy.  So far, the only stability it’s guaranteeing is as fake as a free lunch.