The Chairman of the Federal Reserve is such a swell guy, but you already would know that if you saw his Facebook page. Well, thanks to his “QE2 plan,” he’s giving the rest of us a very thoughtful Christmas present. To be fair, I suppose it should be noted that Bernanke’s policy isn’t necessarily a […]
read more...Fed Chairman Ben Bernanke is at it again, giving an interview that combines all of the worst features of Keynesian economics. I have an excerpt below from a New York Times report, which features an amazing amount of mistakes in a very short amount of space. Here are three that demand correction.
read more...Maybe I’m crazy, or maybe I’m just getting into the Christmas spirit, but I saw this photo of Fed Chairman Ben Bernanke on the Drudge Report and my mind instantly connected his image with this character from “The Grinch Who Stole Christmas.” This might explain Bernanke’s QE2 policy. I can see a film being released […]
read more...One of my first blog posts (and the first one to get any attention) highlighted the amusing/embarrassing irony of having Chinese students laugh at Treasury Secretary Geithner when he claimed the United States had a strong-dollar policy.
I suspect that even Tim “Turbotax” Geithner would be smart enough to avoid such a claim today, not after the Fed’s announcement (with the full support of the White House and Treasury) that it would flood the economy with $600 billion of hot money.
read more...Chairman Ben Bernanke has announced that the Federal Reserve will buy about $600 billion of government bonds as part of what is being called QE2 (because this is the second big stage of “quantitative easing”). This actually isn’t printing money, but it has the same effect in that it creates more liquidity by putting more […]
read more...Two CNBC stories are linked on the Drudge Report this morning, and they both highlight the growing risk of the Fed’s easy-money policy. The first story discusses whether the dollar will continue to depreciate. Since the “optimist” argument is based on global instability, this is hardly encouraging regardless of what you think will happen to […]
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