The End of Bernanke’s “End Game”
Bernanke has opened the Fed's checkbook in an unprecedented fashion. He claims to be "saving" the financial system. In reality he is destroying it.
Bernanke has opened the Fed's checkbook in an unprecedented fashion. He claims to be "saving" the financial system. In reality he is destroying it.
The Fed economists and their supporters really believe — truly believe — that they are the rescuers of our economy.
Why should we care about his predictions concerning the economy or his recommendations for how to end the slump? The answer, of course, is that the Federal Reserve has the power to destroy the world economy.
We cannot eat money. We cannot wear money. We cannot live in money. Money can't buy you love.
The federal government is digging itself deeper and deeper into debt at an alarming rate.
Lord Keynes was constantly worried that people were saving too much and consuming too little — thus the need for more and cheaper money to stimulate the economy. Mr. Bernanke is nothing if not a good Keynesian, and his low rates make even the savviest question whether to forgo consumption.
No one will suspect John Adams of demagogy, but he was quick to denounce any issue of private bank notes as a fraud upon the public.