Dear Congressman Ted Poe:

I write to you today to discuss my concerns for the sad state our country is in, economically speaking. We are changing, from a great superpower of capitalism, to a third-world socialist state under the current administration.

Alan Greenspan spent many years toying with bubbles and balancing the economy, always attempting to manipulate and avoid the natural capitalist economic cycle. Before his departure, he reduced rates and held them at ridiculously low levels for far too long, thus creating a major liquidity bubble that we are currently battling in commodities.

Ben Bernanke has decided to attempt socialism, by taking our hard earned money to bail out the very thieves on Wall Street that have put this country at risk to begin with. These continued rate cuts are clearly causing extreme harm to America in the form of run-away inflation, which we are all paying dearly for. The pace of inflation is grossly outrunning income and is a much larger threat for a systemic meltdown of the economy, than just letting the market cleanse itself in the way that capitalism is designed for.

I applaud Jean-Claude Trichet of the EU, for sticking with the mandate of price control, and choosing to battle inflation. The FED has clearly lost its way, and is threatening our future and my children's future.

I plead with you, that you and your peers take action and demand that the FED return to mandate of fighting inflation. There is a FOMC meeting next week where the rates will likely be cut further. This is not and has not helped consumers in any way. I fear what will happen to the dollar if Mr. Bernanke indeed cuts rates again.

As I write this letter, Oil is trading over $110 per barrel, wheat over $13, and the list goes on and on. Gasoline stockpiles in the US are currently at the highest levels in over 15 years, yet we are paying over $3 at the pump. This has been accomplished on only an 85% utilization in refining. Bottom line, this is a problem of the dollar the FED is destroying, not a true supply/demand imbalance.

Please stop further rate cuts.

Sincerely,
Alan Lammey, Energy Markets Analyst
Houston
281-658-0395