Ben missed the obvious

NCD — Wed, 19 Jun 2013 22:27:33 +0000

Ben missed the obvious irrational exuberance of easy money under Greenspan. He didn't notice that it created the real estate bubble which ultimately led to the 2008 collapse on Wall Street.

QE I, II, III and QE infinity, did rescue the TBTF big banks with 0% free money while it stiffed savers with 0.05% interest, enticing more borrowing and debt. The FED printing money, and sending it over to those with already too much of it, on Wall Street, for more profit seeking and speculation doesn't seem like a sustainable long range plan for an economy.

What is the difference between the FED's current and growing by $85 billion a month 'portfolio' and federal deficit spending? It escapes me? I know Congress would have to act, but wouldn't that $3 trillion in paper at the FED bought from banks, be better spent on infrastructure projects and jobs?

Currently, late speculators/suckers to the 0% FED rate housing 'echo' bubble party are already losing money as the boys on Wall Street dump the stuff as shares of REITs.

"I can't actually imagine

EmmaZahn — Wed, 19 Jun 2013 21:53:04 +0000

In reply to In Praise of Gentle Ben

"I can't actually imagine that Obama has been displeased with Bernanke."

Really? Even after seeing the photo that accompanied the article?

Have you noticed how the press published photos of Obama have been far less flattering since the AP kerfluffle?

dagblog - Comments for "In Praise of Gentle Ben"

Ben missed the obvious

"I can't actually imagine