That sounded like economic isolationism.
Can you even have that in a "global economy?"
I don't have a PhD like he does - can someone please explain how that works?
Bernanke has lost all credibility
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That sounded like economic isolationism.
Can you even have that in a "global economy?"
I don't have a PhD like he does - can someone please explain how that works?
Quote from amanda33:
They should have appointed a genius from Elite Trader, not some guy who's only claim to fame is teaching economics at Stanford, New York and Princeton. His lowering the interest rates might save some families from homelessness but my car's really expensive to fill up now!
mayby now we know WHY GSPN was raising rates gradulally in a stair step manner for so long, and would have continued to do so further.
perhaps now it is time to start taking back those stimulus interest rate cuts in the same stair step manner?
whadd doo yaahhh say?
Greenspan was on performance-related pay, every interest rate rise meant another all expenses paid trip to Atlantic City.
Maybe Bernanke could get off his high horse and just admit the economy has won, he might as well just lower the Fed funds rates to - 1 so everybody can start making infinity profits.
Guys, Big Ben is doing his job right. Making every one happy. Just imagine how many millionaire he make if he just pull a post WW2 Germany on us.
I'll take a stab at it. Ben is monetizing George's soon to be 3 trillion war debt. In other words, we are inflating (i.e., printing) our way out of debt rather than paying it off with higher taxes or increased productivity. This (monetizing) causes the debt burden to be shared between US Citizens and the foreign countries that have loaned us money. This is standard practice for debtor nations. (Without the war debt, Ben would have more flexibility in how to handle the recession. All in all, he is doing a pretty good job considering what he is dealing with.) For more on this topic see recent papers of Joseph Stiglitz.