I'm well versed in the Austrian school of economics, but it seems that Ron Paul got schooled here. How can we have free markets without price discovery?
Ron Paul looked a little lost there after Bernanke's response. It seems Paul's question was completely scripted and previously prepared and he had zero follow up.
There needs to be somebody other than Ron Paul to deliver the Austrian message. He just doesn't come across well.
Did all of you miss Bernanke's HUGE WHOPPER OF A COMPLETE LIE? C'mon. It has to do with the Fed's balance sheet.
One of the problems one has when dealing with a liar as profligate as Mr. Bernanke, is having/taking the time to digest the load that has just been dumped on you (shit is notoriously difficult to digest). It is tiresome at best to hear the 'you got to be able to think on your feet' crew chime in when the response to the crap takes longer that a certain amount of predetermined time. Bernanke is a toad of the first waters and with any luck will soon by enjoying a new career blathering on some lower tiered lecture circuit. lj
why did they give this country to the black man when it was going to the dogs??? this is soooo messed up
Bingo! At this point, anybody who buys Bernanke's answers is a moron. The man is just telling prepared bullsh*t, and few ever bother to think just how preposterous his statements are.
Even if Paul became president in 2012, he'll be 77 going on 78. Perhaps it's time to pass the torch onto his son.