Friday, August 26, 2011

Are we insane? He is the same Bernanke!

We are grasping for every word to hint us, to lead us, to move us one way or the other. A word by the same man who told us:

"Subprime mortgage will be contained"
"Extended period of time means a few meetings"

What happened after those two statements by none other than Federal Reserve Chairman is embedded in history forever. Subprime mortgage brought down entire financial system to its knees. And just after a few months passed by since "a few meetings" easy monetary policy, we now have 2013 as a target for tightening.

Are we insane to listen to the same influential and utterly wrong individual to guide us through yet another recession??

No comments:

Post a Comment