The Fed's Decision to Rake Interest Rates Signals a Crisis

Ben Bernanke was in a no win situation. If he didn't raise rates as they had planned to do it would signal a crisis you know precipitated by the loss of so many big banks and if he did raise rates it would slow down an economy that's clearly in a crisis. Paul basically admitted yesterday that they didn't want to do it but they wanted to keep their word because they promised they would do it which is raise rates. He then admitted that what we've been saying all along is true that a recession is coming or is already here.