In his defense, I don’t suspect that we should ever ask a Fed chairman to give us his “worst” case scenario. Probably something that none of them would ever mention in public…and scare the h**l out of markets.
Personally, knowing how human nature is, I want my Fed president to do his job of preventing inflation and bursting bubbles behind the scenes, and blowing sunshine in public…
[...] Barry posted this compilation of great predictions from Big Ben back in 2005-2007. Subprime probs contained, housing bubble just a local issue, blah blah blah. [...]
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
November 17th, 2009 at 9:51 am
Hat tip McFearless from the Andy T posse!
November 17th, 2009 at 10:02 am
I hope Grayson makes him watch this at the confirmation hearing.
November 17th, 2009 at 3:38 pm
In his defense, I don’t suspect that we should ever ask a Fed chairman to give us his “worst” case scenario. Probably something that none of them would ever mention in public…and scare the h**l out of markets.
Personally, knowing how human nature is, I want my Fed president to do his job of preventing inflation and bursting bubbles behind the scenes, and blowing sunshine in public…
November 18th, 2009 at 7:41 am
The video is too short given the richness of Bernanke’s BS over the years.
Here’s an even better timeline of Fed and Treasury lies/cluelessness:
http://austrianfilter.blogspot.com/2009/04/zero-credibility.html
November 18th, 2009 at 11:08 pm
[...] Barry posted this compilation of great predictions from Big Ben back in 2005-2007. Subprime probs contained, housing bubble just a local issue, blah blah blah. [...]