Remember? This guy was the Time Magazine’s Person of the Year 2009. Watch this classic from Jon which rips apart the credibility of this crackpot much further. The Daily Show With Jon Stewart Mon – Thurs 11p / 10c The Daily Show on Facebook
You must watch this – It sums up all my economic rants in less than 7 min.
More on this loony action by Bernanke, the crackpot No 2 (No 1 was Greenspan) later. For now , check this pic, which I stole from the Big Picture Blog:
What is a rubber-band economy? Imagine the rubber material to be hard cash (currency in circulation) – notes, coins etc outside the central banks and the vaults of depositary institutions. Stretching it would mean that you have expanded credit. More stretch means more credit. More and more stretch – to the point that it breaks, […]
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Two days after I said that Feds are continuing their war on savers, one of the Fed governors came out and more or less agreed with me. Federal Reserve Bank of Kansas City President Thomas M. Hoenig, the Fed’s longest-serving policy maker and one of 10 people who decides the interest rate borrowers pay on […]
Long before Before Jim Cramer became a TV icon, he used to participate on Silicon Investor bulletin board. Circa 1998-2000 I had a few nasty exchanges with him. I once told him (paraphrasing), “Jim, when history is written about the Go-Go 90s, you will go down in the books a icon of the cheer leading […]
I despise the Federal Reserve Board with a passion. Especially the Fed under Greenspan and Bernanke. The right anger has to be aimed at the Fed. Congressman Alan Grayson of Florida explains why we should audit the Fed, which the Senate is resisting.
Question: How do you solve alcohol addiction? Answer: Give the addict heroine! Don’t laugh – this is the solution of the US Federal Reserve Board for more than two decades. Bill Fleckenstein is a savvy investor, fund manager and an analyst. A decade ago, I had the pleasure of interacting with him on Silicon Investor […]
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Two years of business school education, and decades of experience in dealing with worthless securities is not enough to understand the complexities behind AIG bailout. Bernanke, one of the architects of the bailout, once expressed “outrage” over AIG executives getting bonuses. Today and this week both Bernanke and AIG will be in the news a […]
It is irrelevant which party is in power, the modus operandi is the same. Give us what we want, or else markets will tank! What we know from this process is that it is not the elected officials who are in charge. This is no democracy. This is an oligarchy. A bunch of fat cat bankers and large corporations are in charge. Not the Congress. Not the President.
Time wants us to believe that Bernanke saved us from melt-down, but I think time will tell us a completely different story: Bernanke’s cure is worse than the disease that was ignored even caused/spread by Greenspan’s Fed.
