The Fed is crazy. And so is Sears.

I'm finding it hard to believe that the government is really trying to get people to spend more with these efforts to bail out the banks. The premise goes like this, the Federal Reserve buys its own debt back from banks. Banks thus have money to lend. People borrow money, spend it and stimulate the economy. Here's the problem, the low rates that banks enjoy are not being passed on to consumers in a meaningful way. Case in point, credit cards. I just paid off a Sears card whose rate had been raised to 25.4%. And that's apparently not all that unusual these days. Who the hell is going to use credit at rates like that. This card is being locked away in my home safe from now on. Is the Federal Reserve really stupid enough to believe that people will willing take on debt at such usurious interest rates. Nuts!

And Sears, by the way, you have lost me as a customer. I will take my business to Home Depot or PC Richard or Walmart from now on. Screwing your customers is no way to do business.