Bubble ben bernanke is pure genius. I hope he keeps his easy money policies in place and continues to print trillions for the next 10-20 years because thats the only thing this economy knows....
Don't the fed heads have term limits? That might be a problem! :eek: Need to make sure that just like Greenscam thought Ben so will Ben teach the next bubble head. The bubble cycles must continue! Cheese for everyone!
Well it's worse than that. He was smug about in the way he did it too. As Nassim Taleb said, "reminds me of the LTCM guys" Obama should take some blame for keeping him on.
+1 I dare America stop printing. This is an endless process and an exponential one. Stop printing and see the dollar die within a year. Continue printing and see it die slowly. Of coarse everyone wants to buy time.
It's an interesting theory. Most times you reduce supply of something price goes up. Ben Bernanke and you think the OPPOSITE is the case for the US dollar. Some sort of upside down 'J curve' effect. The NEW economics...
What's interesting about Bernanke is why anyone listens to him anymore. Look at the respect the TV gives him, and when he speaks it's made out to be a big thing. Surely he's as discredited as a Middle Eastern despot.
Most of the money printed is replacing the debt (and it's interest) destroyed via defaults and crap. Now stop printing and one default will result in another, a chain reaction will occur resulting in the destruction of debt made in the form of US dollars, and that will be the end of the USD. Or they can devalue the USD slowly through inflation.
90% of the people against easy monetary policy would probably change their way of thinking in a heartbeat after about a week of truly hardcore strict monetary policy. I'm probably one of them. The other 10% is short everything....