Too bad that our last Fed Chairman was a dissembling, blithering idiot, a standing joke in his private practice, who could not find the optimal monetary policy with both hands. But he was a masterful politician and bureacrat, surrounded by fellow sycophants, and did know how to serve the banking interests and make himself look [...]
thanks to OptionArmageddon
Why don’t we try what really works?
“We must deflate” - Warren G. Harding aka “reduce everything”…he totally get it.
What was going on in 1920?
Is that so..that we need the government to resolve the crisis or the opposite?
Cut the budget or increase government spending? Which one is the right way?
Bernanke needs to learn from FED inaction policy [...]
Does the corruption, greed, and malfeasance which pervaded the banks gone away? .. LOL
The original sin of our current downfall can be traced back to the mid-20th century when politicians broke the fundamental financial disciplines guaranteed by gold-linked currencies. More recently, politicians “encouraged” banks into “social lending” for low-income housing, which led to the sub-prime [...]