Time Machine Trip: Bernanke in October 2005 “There’s no housing bubble to go bust.”
And this guy is the Chairman of the Federal Reserve?!?
Please read this article from October 2005, then click on this link to past issues and check out some of the Ponder This… commentary from 2005 regarding the likelihood of a housing bust.
So should a free Internet newsletter/blog really be that much better at understanding what’s likely to come in the near future than those who wield tremendous power over the economy via the Federal Reserve and through control of interest rates?
Is this the twilight zone??
Ben Bernanke is a complete idiot, as was Alan Greenspan before him. I do not understand how we get these knumskulls running a massively powerful central banking institution in the United States at the turn of the 21st Century. WHAT THE HELL IS GOING ON?
And Ron Paul is really the only one in our elected leadership who understands and challenges the foolishness of our central banking set up. Again, another large reason I support the guy. Common sense and basic awareness…
Filed under: Economics, Entertainment
I read a book called Bubble Man (I can’t remember the author’s name). An interesting theme in the book is that Greenspan really did understand what was going on. He just chose to eschew his duty in favor of politics.
I tend to agree with this. Really smart people like these central bankers understand what is going on. They just chose to act in their own self-interest and in the interest of their cronies. Bernanke is the same.
So, they are crooks, not idiots.
Well, this just speaks for itself. It is far worse to be a liar and crook than it is to be an idiot, so whichever it is, the American people need to wise up and throw idiots like this out of MAJOR leadership positions such as chairman of the freaking federal reserve.