Is Chairmen Bernake Incompetent?

Is Bernake Incompetent

  • yes

    Votes: 48 57.1%

  • no

    Votes: 36 42.9%
  • Total voters
    84
In the socialist tradition, by inflating he feels only "rich" people that have financial assets are harmed. People who worked and saved are of no concern. Deflation hurts "poor" people because they can lose their jobs as a result.

If capital asset prices rise it doesn't count toward inflation in government statistics.
If capital asset prices fall it will be called DEFLATION!!! Lending will be encouraged, printing presses will roll and real interest rates will become more negative than they already are.

U.S. government as largest debtor also benefits in two ways from easy money policies.
Inflation grows tax receipts in a progressive system and reduces the real cost of carrying the debt.

To answer your question:

Incompetent no.
Government's dream boy YES!
 
There is a learning curve to every job. We attribute more power than they (fed) actually have. Greenspan was powerless to stop the bubble 1999 (his 'bubble" comments were several years before the end in 2000) and powerless to curbe the freefall and steep decline in 2002 (and recession).
 
da guy has clearly shown he's not up to da job yet..maybe he'll get better with time but he's a looong way to go before he can exercise da same authority greenspan had...not enough steady, very insecure and confused to da max.
 
Bernanke is just settling into the job. Sometimes even the smartest person can have a few dumb edges that show and they get dropped.

This guy is a cautious mother.

I would, if him, go for no base rise on the next FOMC but warn that I am open to further rises if required as the economic data continues to unfold.
:)
 
nobody gets appointed to any government post based on competence to do the work. they get appointed because they are a political ally.
 
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