Bernanke - Irony of a Lifetime

Quote from Scataphagos:

Bernanke is saying, "In spite of all the criticism the Fed has received both at home and abroad... the fact remains that I KNOW BETTER THAN ALL OF YOU (world leaders and economists) PUT TOGETHER".

Sounds like the Odumba/Pelosi message, doesn't it??

:mad: :mad:
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His entire thesis on the great depression was in fact there was not inflation, but deflation, persisting during the 1937-1938 "recession". he is confident the great depression would not have lasted nearly as long if the cb was aggressive, i tend to agree with him, just not on his timing.
 
Quote from matgallis:

His entire thesis on the great depression was in fact there was not inflation, but deflation, persisting during the 1937-1938 "recession". he is confident the great depression would not have lasted nearly as long if the cb was aggressive, i tend to agree with him, just not on his timing.
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Just because one "can" stop a deflationary correction, does that mean one SHOULD?

Deflation is a healing, reinvigorating, TEMPORARY AND NECESSARY, healthy correction to inflation.

Inflation = DESTROYER OF WORLDS!!
 
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