Earlie, since he just began a fresh term, i believe he will have opportunity to get some TL & EV experience first hand...and i mean of the kind that doesn't get fixed by MORE printing.
i'm actually quite surprised he agreed to another term...i always thought that deep down he knew what is happening and would not want to be associated with the bust.
we'll see...perhaps Luc will get it right for once, and some market (perhaps gold) runs away from the various manipulators for once and lifts the veil. i know it's going to happen sooner or later.
btw., the equanimity with which today's record trade deficit was greeted by various commentators was indicative of how utterly complacent everybody has become...a full blown investment mania is raging, encouraged by the most irresponsible Fed since the 1920's and debts and imbalances are piling up left and right. and yet, everybody seems fixated on how great everything actually is. a rare comment urging caution came from a former Fed governor today (i believe it was Wayne Angell, anyway, one of those they regularly interview on TV): he pointed out that the growing imbalances could cause the economy to fall off a cliff one day, which is precisely what i am predicting (so far in vain) eventually to happen.
the big question is of course, how long can they keep this up?
definitely not indefinitely...<g>
regards,
hb |
