much easier for the government (obama and his thieves) to force banks to allocate credit to their cronies or to follow government goals if there are 5 banks and not 5000 banks.
I agree with this completely but would add one thing. The counterfeit bid is holding up pretty much every market and preventing all of them from reaching prices that will clear them: Housing, treasuries, gold, silver, oil. There has to be some creative destruction or we will just peg it all until it simply explodes. This is very unhealthy rigging of every asset class. It will not end well.
Considering the content of the OP's thread and the vacuous logic undermining the science behind the point - this is clearly the most lucid and smart response I have seen in some time on ET. Brilliant.
and this is why perma-bears will be losers in the end. There are too many powerful forces trying to keep equities up. Betting against those forces in the long term is a loser's game. that's why my retirement accounts, which are on a 25+ year horizon, are net long equities.
May I ask where you got your economics PHD? If you want to challenge the conventional economic wisdom of monetary easing during economic down cycles, you best have some impressive credentials. The arrogance of the ignorant masses never ceases to amaze me. I'm no professor of economics so I'll defer to the likes of Bernake and his team, who are all vastly more knowledable in the subject than I am.
you should start by writing PhD correctly. "If you want to challenge the conventional economic wisdom of monetary easing during economic down cycles, you best have some impressive credentials." start by studing milton friedman.
"If you want to challenge the conventional economic wisdom of monetary easing during economic down cycles, you best have some impressive credentials." start by studying milton friedman.
Wow... Your a class A dipshit. :eek: Everyone knows that Bernanke saved the economy with easing. Everyone was skeptical at first but it's working for a bit. The ironic part is that the stock market is actually as low as the OP thinks it should be... Inflation adjusted. If Bernanke wasn't around with his promise of support... The markets would crash to below 1000 S&P by tomorrow... Everyone knows it. Hedge fund managers, bankers, and even college teachers I talked to years ago... Bernanke's big bet to save the financial system through QE... Everyone knew the gamble had potential to blow up the currency, but everyone was surprised by how well it worked. And, the currency didn't get completely blown up!
Actually... If Bernanke hadn't stepped in with his big QE gamble to save the system... The S&P would be trading around 250-500 right now and we would be in a great depression. Fact...
This is probably true. And I think it is a good thing he did. I've been doing research on a lot of manufacturing firms recently. In 2008, the world truly stopped for these guys as they couldn't even get daily funding to make payrolls, pay rent, etc. The OP and others on here sound upset that civilization as we know continues to persist.