Bernanke Should Be Impeached

Discussion in 'Economics' started by Pa(b)st Prime, Feb 14, 2008.

  1. Just another Federal Reserve chairman of a certain Globalist persuasion who represents Wall Street and asset holders over price/currency stability. At least the Treasury market has FINALLY woke up.

    I'm incredulous that no one in Congress except Ron Paul has called his bluff on the dollar and inflation. Honestly I think Bernanke should be shot for treason but impeachment's good enough......
  2. GreenScam first!!
  3. I just don't get how he can look the camera in the face and say "Inflation expectations remain anchored and are expected to moderate." If I were him and I said that, I wouldn't be able to keep a straight face.
  4. I'm not a bond guru by any means but is it possible for Bernanke to keep cutting rates if Bonds keep going down and the yield keeps going up? Who follows who? Bond traders follow Bernanke or will Bernanke follow the bond yields? I take it it's the latter?

    Probably stupid questions but enlighten me :)
  5. ron paul is an M.D. and not an econ PhD. you could probably find 50 econ PhD profs that have blogs and don't think Bernanke is doing that bad of a job.
  6. Anyone who thinks Bernanke is doing a good job has never heard of Trichet. Bernanke is a tool. Impeach him.
  7. Bernanke is an inflationist. We will have the pleasure to pump $8 gas, drink $10 gallon of milk, and eat crappy $100 steaks in the future thanks to his money printing.
  8. ehorn


    I am no fan of Bernanke but lets not forget the mess he inherited...

    And Benny is well aware of the inflation concerns but I mean look guys - the US is going through a serious credit crunch... with spreads widening, weaker interest rates, and with bank shares continuing to collapse.

    We have seen this (credit crunch) before.. Japan 1990, Scandinavia 1992-93, France 1994, Thailand 1997, Argentina 2001. Now the play book for policy makers to successfully navigate this is 3 steps:

    1) Collapse currency - to make domestic assets attractive to foreigners
    2) Re capitalize Banks - to let them get on their feet
    3) Steepen the yield curve - to allow banks to lend money again

    France and Scandinavia implemented this successfully. Japan did not. Now the US is quickly implementing this plan (2.5 steps into this in the period of 6 months) - almost impressively quick! Now we need rising interest rates to get the machine going again.
  9. well i'm actually pretty sure that most of the econ prof's blogs that i read have actually heard of trichet and yet they don't think bernanke is doing a bad job.
  10. In what way is he doing a good job?

    Inflation is rising AND unemployment is rising. Inflation control and currency stability CANNOT be allowed to trump concerns over credit.

    We're going down the road of Argentina.
    #10     Feb 14, 2008